![]() If it reveals a decline, the bond market should react favorably, pushing mortgage rates lower. ![]() This month's report is expected to show a 0.2% increase in sales from January. economy, data that is related usually has a big impact on the markets. Since consumer spending makes up over two-thirds of the U.S. ![]() February's Retail Sales data is one, giving us an indication of consumer spending strength. Tomorrow has two more highly important economic reports that are expected to heavily influence the financial markets and mortgage rates. For today though, we can label the CPI report as negative for bonds and mortgage rates. Predictions on what the Fed will do vary quite a bit now. These readings would be strong enough to easily cause the Fed to make another bump to key short-term interest rates at this month's FOMC meeting had it not been for the recent banking crisis. The overall reading matched forecasts with a 0.4% increase, but the more important core data that excludes volatile food and energy costs rose at a stronger than expected pace of 0.5%. This morning's major economic release was February's Consumer Price Index (CPI) that showed inflationary pressures at the consumer level of the economy were still rising last month. 500 of a discount point if compared to Monday's early pricing. The bond market is currently down 27/32 (3.64%), which should push this morning's mortgage rates higher by approximately. Stocks are rebounding, showing gains of 302 points in the Dow and 200 points in the Nasdaq. Tuesday's bond market has opened in negative territory following this morning's inflation data.
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