Treasuries and mortgage bonds improved late Thursday afternoon and are flat this morning after absorbing a series of economic reports.
Manufacturing expanded in September at the slowest pace in 10 months, according to the Institute for Supply Management’s factory index which dropped to 54.4 from 56.3 in August.
Confidence among U.S. consumers declined less than forecast, as the Thomson Reuters/University of Michigan final index of consumer sentiment fell slightly to 68.2 from 68.9 in August.
Consumer spending in the U.S. rose more than forecast in August as incomes edged slightly higher. Wages and salaries increased 0.3% after a 0.4% increase the prior month, showing how the weak labor market is holding back paychecks.
All in all a mixed bag of reports indicating the U.S. economy is struggling to maintain positive growth.
Mortgage prices are better today by .125% to .250%.
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