Weekend Update

Date

Market Update

  • Quarterly 1 GDP shows growth of 1.6% instead of the 2.5% estimated. 
  • Personal spending rose 2.5% instead of 3%.
  • Pending home sales rose 3.4% in March, expected is .3% 
  • PCE comes out today, but prediction is that is will decline from 2.8 to 2.7%.  
  • NAR forecasts housing starts will rise in 2024 and even more in 2025.  
  • Initial jobless claims fell 5000 to 207,000 and long term claims decreased as well.  

7/26/2024

PCE came in this morning. It wasn’t as low as we’d hoped, but mortgage-backed securities are actually doing ok and going the right direction.

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7/12/2024

Fed members seem to be leaning towards a rate cut. We may be on the cusp of things turning around finally!

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5/31/2024

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

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