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Market Commentary [09.29.2023]

Bond pricing is improved as treasury yields move downward on the latest round of PCE data. The U.S. 10 Year Treasury yield is currently 4.571%, down from the open at 4.579%. The market quickly digested the release of PCE data this morning along with personal income and spending, US trade balance in goods as well as retail and wholesale inventories.  This round of PCE data is key for the Fed’s November decision. Month over month PCE came in just below forecast at 0.4% vs 0.5% and core PCE reading 0.1% vs 0.2% forecast. Year over year PCE rose 3.5% which was inline with forecast, but slightly above the last reading at 3.4%. The cost of goods and services rose a sharp 0.4% in August, the biggest increase in seven months, primarily due to higher gas prices. Overall, it appears that inflation has continued to slow. While reassuring, the market will have to wait and see how the Fed will view the release and if they will look to raise rates one more time before the year closes out. 
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​ This week's major U.S. Economic Reports and Fed Speaker
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This site is not intended for consumer use as defined under Regulation Z and is intended for approved brokers’ informational use only. Pricing and/or program parameters are subject to change without notice. The information on this site is not intended as an offer to extend credit nor a commitment to lend.  Products and services are not available to residents of states in which WesLend Financial is not licensed. WesLend Financial is not licensed in all 50 states.  See "Where We Lend" for additional licensing information about the company. WesLend Financial Wholesale is a service mark of Lenox Financial Mortgage Corporation. ©2023 Lenox Financial Mortgae Corporation, all rights reserved. NMLS #3304.

  • Home
  • Products
    • Asset Qualifier
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    • 1099 Income
    • Conventional
    • FHA / VA
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  • Resources
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