Last week’s US macroeconomic data:
Labor market. Initial jobless claims saw almost no changes (w/w). The current rate of unemployment is 7.8% (no change).
Mortgage lending. The mortgage rate grew up to 3.61% (the previous readings – 3.52%). The index of mortgage-based purchases increased up to 185.7 (the average value seen over the last few years). The overall mortgage lending index increased up to 726.4. The market recovered after short-term weakness.
Consumption. Wholesale sales increased up to by 2.3%, thereby outpacing the forecast (0.6%). Retail sales declined a little (-0.3%, according to the Red Book). The IBD economic optimism increased from 45,1 up to 46.5 (m/m). Still it was below 50.
Last week, there was a bond auction in the USA. As a result, the yield increased up to 3,07%, which is the 9-month high.
The USA’s external trade deficit increased from -$42,2bn to -$48,73bn in November.
According to the experts of , the US market of T-bonds is supported by positive and neutral macroeconomic data. The price will probably continue fluctuating within a price range.
