December retail sales drop dramatically

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CNBC's Rick Santelli reports on the December retail sales, January PPI and the 2/9 jobless claims. Jim Iurio joins "Squawk Box" to break down what the numbers mean for the markets.

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December retail sales drop dramatically
December retail sales drop dramatically

MBS Day Ahead: Retail Sales is Back! Will Traders Pretend Nothing Changed?

Posted To: MBS Commentary

Perhaps it wasn't their fault, but several top tier economic reports up and left us during the government shutdown. We knew we'd see them again at some point, but in the meantime, we had to adapt to gleaning economic cues elsewhere. Moreover, we're left to wonder what the government shutdown time may have done to corrupt the first few rounds of economic reports that are returning after their forced hiatus. What am I getting at, you might ask? It's hard to imagine just how big and bureaucratic the US government is. The agencies that collect and distribute economic data have infinitely more employees than you or I would ever hire if charged with the task of collecting the same data. Only a small and noble percentage of government employees truly care about the far-reaching implications…(read more)

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MBS Day Ahead: Retail Sales is Back! Will Traders Pretend Nothing Changed?
MBS Day Ahead: Retail Sales is Back! Will Traders Pretend Nothing Changed?

Congress to vote on spending bill to prevent a second government shutdown

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CNBC's Ylan Mui walks through the deal that Republicans and Democrats have struck to keep the government funded. Both sides say they consider the bill to be a compromise on border security. The bill is widely expected to pass both chambers in Congress, however, there is still some uncertainty as to whether President Trump plans to sign the bill.

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Congress to vote on spending bill to prevent a second government shutdown
Congress to vote on spending bill to prevent a second government shutdown

Highest Rates in a Week; First-Time vs Trade-Up Buyers; Marketing Products; Does Inflation Matter?

Mortgage rates hadn’t changed much over the past few business days, even though they arguably should have moved a bit higher yesterday. That made today’s adjustment slightly more abrupt. Why was there an adjustment? Mortgage rates are based primarily on the trading levels in the bond market. In turn, the bond market takes cues from a multitude of factors big and small. Among the biggest considerations for bonds are the various regularly scheduled economic reports. Among those reports, inflation data is traditionally very important to bonds. And finally, among inflation data, today’s Consumer Price Index is probably the most widely followed. Inflation didn’t jump in any major way, but the important “core” reading (which factors out food and energy) was slightly higher than expected on an annual
Highest Rates in a Week; First-Time vs Trade-Up Buyers; Marketing Products; Does Inflation Matter?
Highest Rates in a Week; First-Time vs Trade-Up Buyers; Marketing Products; Does Inflation Matter?

MBS RECAP: Bonds Lose Ground on Shutdown Deal Hopes and Inflation Data

Posted To: MBS Commentary

At first glance, this morning's weakness was all about the Consumer Price Index (CPI)–the most widely-followed inflation report. In order to make a case for CPI causing the weakness, we'd have to assert that a core year-over-year reading of 2.2% versus a forecast of 2.1% was significant, even as monthly headline inflation missed its forecast by the same amount. Whether or not you're following me here, I'll just put it simply: it strains credulity to assign the blame for today's weakness strictly to the inflation data. It just wasn't a big enough beat, and this hasn't been a report that's merited this sort of reaction in the past several months. Looking for other explanations quickly reveals 2 other suspects at the scene of the crime (the 8:35-8:35am timeframe…(read more)

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MBS RECAP: Bonds Lose Ground on Shutdown Deal Hopes and Inflation Data
MBS RECAP: Bonds Lose Ground on Shutdown Deal Hopes and Inflation Data

Highest Mortgage Rates in a Week After Today's Move

Posted To: Mortgage Rate Watch

Mortgage rates hadn’t changed much over the past few business days, even though they arguably should have moved a bit higher yesterday. That made today’s adjustment slightly more abrupt. Why was there an adjustment? Mortgage rates are based primarily on the trading levels in the bond market. In turn, the bond market takes cues from a multitude of factors big and small. Among the biggest considerations for bonds are the various regularly scheduled economic reports. Among those reports, inflation data is traditionally very important to bonds. And finally, among inflation data, today’s Consumer Price Index is probably the most widely followed. Inflation didn’t jump in any major way, but the important “core” reading (which factors out food and energy) was slightly higher than expected on an annual…(read more)

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Highest Mortgage Rates in a Week After Today's Move
Highest Mortgage Rates in a Week After Today's Move

With low interest rates, pressure of national debt goes away, says Brookings Institution's Wessel

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As the national debt tops $22 trillion, could it be a risk to the economy? David Wessel, The Brookings Institution senior fellow in economic studies, joins 'The Exchange' to discuss.

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With low interest rates, pressure of national debt goes away, says Brookings Institution's Wessel
With low interest rates, pressure of national debt goes away, says Brookings Institution's Wessel

90 percent of market turn around due to Fed, says market pro

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Bryce Doty, senior vice president at Sit Investment Associates, and CNBC's Dom Chu join 'The Exchange' to discuss the rally and what to watch in the markets.

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90 percent of market turn around due to Fed, says market pro
90 percent of market turn around due to Fed, says market pro

NAHB Takes a Detailed Look at First-Time and Trade-up Buyers

Posted To: MND NewsWire

A total of 8.8 million households bought homes in the two years preceding the most recent American Housing Survey (AHS). The survey, sponsored by the Department of Housing and Urban Development, is conducted by the Census Bureau every two years. The AHS is a nationally representative survey of residential structures in the US and of the households that occupy them. Results of the 2017 survey were released last year and the National Association of Home Builders (NAHB) has taken a detailed look at the findings, publishing several blog entries. Carmel Ford of NAHB’s Economics and Housing Policy Group has now published a paper on the characteristics of those recent buyers and their transaction. The 8.8 million homebuyers are the highest tallied by any AHS since the Great Recession. There were 11…(read more)

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NAHB Takes a Detailed Look at First-Time and Trade-up Buyers
NAHB Takes a Detailed Look at First-Time and Trade-up Buyers

Cashin: Trade talks and government shutdown threats are still the two biggest factors moving markets

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UBS Director of Floor Operations Art Cashin joins CNBC's "Squawk on the Street" to discuss how ongoing trade talks, concerns about how a government shutdown and an earnings recession might be affecting markets now and ahead.

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Cashin: Trade talks and government shutdown threats are still the two biggest factors moving markets
Cashin: Trade talks and government shutdown threats are still the two biggest factors moving markets