U.S. Economic News
October 10, 2019
U.S. Economic Indicators
Consumer prices were unchanged in September (up 1.7% from a year ago). The “core” CPI, which excludes food and energy, increased 0.1% in September and is up 2.4% from last year. BLS Report
Initial jobless claims fell 10,000 to 210,000 last week. The four-week moving average rose 1,000 to 213,750. DOL Report
U.S. News
According to the Wall Street Journal, mortgage rates aren’t falling nearly as fast as interest rates, with the gap between the average mortgage rate and 10-year Treasury yields at its highest level in over seven years. Although home sales have been lackluster, lenders have been able to avoid lowering mortgage rates amid borrowers’ strong demand for refinancing. WSJ
Bloomberg reports that the U.S. is considering including a previously-agreed currency pact with China as part of an interim deal aimed at avoiding next week’s tariff hike. The currency accord, which was originally agreed to before talks broke down in July, could help de-escalate trade tensions but is unlikely to have a significant impact on China’s exchange rate policy. Bloomberg