http://MikesDailyMarketReport.com: The big report for this week was released, which is the CPI, or Consumer Price Index. This index measures inflation on the Consumer level. The CPI rose 0.3% in August, however, it's YoY dropped by 0.1% to 5.3%. The Core CPI, which excludes food and energy (and viewed more closely), rose only 0.1% in August and it's YoY dropped by 0.3% to 4.0%. This may indicate that we've reached out peak with inflation and may see it reside a bit further, as we continue to reopen the economy. This may create some confusion as to the Fed's next move next week, as inflation now appears to be subsiding a bit and the poor jobs report. There will be questions if they taper this year or next. Meanwhile, Stocks are in the Red. MBS is benefitting from the pullback in the Stock Market, as they're currently Up 16bps, so Mortgage Rates are better today. Yields dropped below 1.30% to just under 1.27%.
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