Friday , September 21 2018
Home / Calculated Risk / Tuesday: Retail Sales, NY Fed Mfg, Homebuilder Survey

Tuesday: Retail Sales, NY Fed Mfg, Homebuilder Survey

Summary:
From Matthew Graham at Mortgage News Daily: Mortgage Rates Sideways But Market Says They Shouldn't BeMortgage rates were sideways to slightly higher today, and that's actually a strong showing considering what transpired in underlying bond markets. In fact, I'd wager tomorrow morning's rate sheets will be noticeably weaker if bonds are anywhere near their current levels. [30YR FIXED - 4.625%-4.75%]emphasis addedTuesday:• At 8:30 AM ET, Retail sales for April will be released.  The consensus is for a 0.3% increase in retail sales.• At 8:30 AM, The New York Fed Empire State manufacturing survey for May. The consensus is for a reading of 15.5, down from 15.8.• At 10:00 AM, The May NAHB homebuilder survey. The consensus is for a reading of  70, up from 69 in April. Any number above 50

Topics:
Bill McBride considers the following as important:

This could be interesting, too:

Bill McBride writes Earlier: Philly Fed Manufacturing Survey Suggested Faster Growth in September

Barry Ritholtz writes Jeff Bezos 1997 Interview

Gregor Samsa writes Who Is Funding The U.S. Budget Deficit?

Kathy Lien writes Stocks Hit Record Highs, Which Currencies Benefitted the Most?

From Matthew Graham at Mortgage News Daily: Mortgage Rates Sideways But Market Says They Shouldn't Be
Mortgage rates were sideways to slightly higher today, and that's actually a strong showing considering what transpired in underlying bond markets. In fact, I'd wager tomorrow morning's rate sheets will be noticeably weaker if bonds are anywhere near their current levels. [30YR FIXED - 4.625%-4.75%]
emphasis added
Tuesday:
• At 8:30 AM ET, Retail sales for April will be released.  The consensus is for a 0.3% increase in retail sales.

• At 8:30 AM, The New York Fed Empire State manufacturing survey for May. The consensus is for a reading of 15.5, down from 15.8.

• At 10:00 AM, The May NAHB homebuilder survey. The consensus is for a reading of  70, up from 69 in April. Any number above 50 indicates that more builders view sales conditions as good than poor.
Bill McBride
A full time blogger, Mr. McBride retired as a senior executive from a small public company in the '90s. Mr. McBride holds an MBA from the University of California, Irvine, and has a background in management, finance and economics.

Leave a Reply

Your email address will not be published. Required fields are marked *