February 18th, 2014
February 18, 2014; 9:01am
Interest rate trends: Today – Flat; 10 days – Higher; 25 days – Flat
Interest rate recommendation: Cautious float
Worse than expected economic news this morning is supporting our lower interest rates. The NY Empire State Manufacturing Index fell to 4.48 in February, down from 12.5 in January and below the 7.5 expected. The National Association of Home Builders (NAHB) index fell to 46 from 56 and below the 56 expected. Anything below 50 is bad news. Tomorrow we will get the FOMC meeting minutes, on Thursday we’ll get the CPI and Philly Fed Index. All these have high potential to move interest rates. So cautious float right now, but be on guard should any of these come in better than expected. Have a nice holiday shortened week!