July 14th, 2017 4:51 PM by Gene Tidgewell
June retail sales were released today were rather weak at an increase of 0.1 % versus expectations of an increase of .3 %. It appears people are still reluctant to spend money being unsure about health care and its costs, taxes and wage growth. There are too many balls in the air.
Consumer Price Index (CPI) for June came in at year over year increase of 1.6 % versus expectations of 1.7 %. This is pretty anemic growth and shows the economy is still growing but very slowly. Washington needs to start to resolve the health care issue. It will not be corrected in one bill I do not think. After that if they are going to give the worker bees a chance to thrive they need to ease the tax burden on us. Maybe their pay should be tied to performance. If the Congress passes a bill they get paid. Higher pay for more important bills and $ 5 for the easy ones. Would that motivate them? LET ME KNOW.
Rates were pretty much unchanged. Mortgage backed securities improved 9 basis points for the week. Yield on 10 year Treasuries dropped 5 basis points for the week.
A light week for economic data next week so we will be at the mercy of the technical, talking Feds and geo political events.
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Top Ten College Marching Bands
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