Weekend Update

Date

Market Update

  • Things are looking up!! The Fed’s favorite reading is Core CPE which stands for Personal Consumption Expenditure.  The Fed wants to see this at 2%.  
  • Core CPE increased by .17%, to 2.6%, BUT year-over-year it went from 3.2% to 2.9%. This should continue to go down. 
  • Core CPE strips out food and energy costs.  Housing increased by .46% last month and is up 6.4% yoy, previously it was at 6.7%
  • Personal income rose .3%, but spending rose .7% and savings rate fell to 3.7% meaning people are struggling
  • Pending home sales rose 8.3%!! Expectation was 1.3%.
  • 30+ days delinquent mortgages rose from 2.8 to 2.9%
  • 90+ days remained at the lowest level in 25 years at .9%

5/31/2024

-PCE (personal consumption expenditures) shows all-in inflation rose .3% for the month which was expected.

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3/8/2024

Used care prices fell .1 year over year and fell .8% in February. Car sales play into inflation numbers

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2/9/2024

Bonds are a little down right now so we recommend locking at the moment Congressional Budget Office says the deficit is no 1.6 T. They think it will increase 60% in the next 10 years if nothing was added. That is extremely unlikely.

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