Daily Market Update 9/27/17

Rates inched higher Wednesday as investors reacted to news that President Trump will release more details on his tax reform proposal later today.  The plan is expected to boost economic growth and expand the deficit, which could raise the outlook for future inflation.  In economic news, August Durable Goods Orders rose 1.7%, close to forecast.  August Pending Home Sales fell 2.6%, well below expectations, marking the fifth decline in the past six months.  The National Association of Realtors Pending Home Sales index is now down to the lowest level since January 2016.  A lingering supply shortage, coupled with increased home prices were cited as key factors in the disappointing figures.  Results from today’s 5-year Treasury auction will be released at 1:00 PM.

Back to top