Monday, November 14, 2016

Tuesday: Retail Sales

by Bill McBride on 11/14/2016 07:25:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Skyrocket to 4%. New Normal?

It's been a long time since anyone could say that top tier conventional conforming 30yr fixed mortgage rates were at 4%. Indeed, even last Monday, the thought of 4% rates would border on preposterous. But what a difference a week makes! Over the past 3 days, rates have moved higher at a pace that's only matched by the worst 3 consecutive days of the mid 2013 taper tantrum.
emphasis added
Tuesday:
• At 8:30 AM ET, Retail sales for October will be released.  The consensus is for 0.6% increase in retail sales in October.

• Also at 8:30 AM, The New York Fed Empire State manufacturing survey for November. The consensus is for a reading of -2.3, up from -6.8.

• At 10:00 AM, Manufacturing and Trade: Inventories and Sales (business inventories) report for September.  The consensus is for a 0.2% increase in inventories.