Real Estate
Home›Real Estate›Mortgages›Producer prices edge past forecasts, lifting bonds and…
Producer prices edge past forecasts, lifting bonds and stocks
Oil had been trending lower and the bond rally was steady through the morning, while stocks jumped after the 9:30 a.m. open.
Mortgage News Daily said the morning’s inflation read came with a modest upside surprise for the bond market, with the producer price index barely beating expectations, and y/y core PPI running lower than desired levels for prices.
The outlet said bonds added to overnight gains and saw an unusually strong market reaction for such a small PPI beat, even as oil was trending lower since early morning and bonds stayed nearly flat from roughly 4 a.m. to 8:30 a.m.
Mortgage News Daily also noted that stocks moved higher at the 9:30 a.m. open, suggesting retail stock investors may have taken the inflation signal as supportive.