Posted on August 12, 2016 by Brent Nyitray
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Stocks are higher this morning on strong economic news out of Europe. Bonds and MBS are up.
Retail Sales were flat in July. Ex-autos and gas they were down. Basically autos and ecommerce did okay, and everything else was lousy. Speaking of lousy, we are getting retailer earnings and for the most part they are disappointing.
Business inventories barely moved in July, increasing by 0.2%.
Consumer sentiment came in lower than expected as well.
Delinquency rates hit a 10 year low in the second quarter according to the MBA
. The number of homes in foreclosure hit 1.64%, down 10 basis points from the first quarter and 40 basis points from a year ago. VA loans are performing the best, while FHA are performing the worst.
Filed under: Economy, Morning Report |