Weekly Outlook

Current Trend Direction: Sideways
Risks Favor: Neutral to Locking
Current Price of FNMA 6% Bond: $100.72

Thank you pilgrims and natives for creating the tradition we know as Thanksgiving. With a spread of turkey, stuffing, green bean casserole, rolls, sweet potatoes, cranberry dressing, ham and much more, only to be followed by a variety of pies ranging from pumpkin, banana cream and pecan, I dare to say it doesn't get much better. We have a spread of economic news on plate this week, with the Personal Consumption Expenditure Index (PCE) drawing the appetites of most. It has been noted in the past that the PCE is the Fed's favorite measure of inflation. It is one of the few reports that analysts are able to derive a comparison on the current status of inflation by taking month to month and year to year changes on a basket of good and/or services that typical consumers like to purchase. The PCI is deemed more relevant than the CPI due to the fact that it takes into account sales and substitutes when an item becomes overpriced. On a technical level, bonds are overbought and could factor in if inflation reports come in negative.

November 28 Durable Goods Orders Moderate
November 28 Consumer Confidence Moderate
November 28 Existing Home Sale Moderate
November 29 Gross Domestic Product Moderate
November 29 Chain Deflator Moderate
November 29 Home Sales HIGH
November 29 Crude Inventories Moderate
November 29 Beige Book Moderate
November 30 Chicago PMI HIGH
November 30 Personal Consumption Expenditures HIGH
November 30 Jobless Claims Moderate
November 30 Personal Income Moderate
November 30 Personal Spending Moderate
December 01 ISM Index HIGH