Good Monday Morning!

This could be an interesting week for the mortgage bond market, we are going to receive a lot of economic data and many Wall Street traders will be out of the office early in the week ahead of the long weekend. We could see more volatility than we have in several weeks. The ADP report on Wednesday and the Bureau of Labor Statistics’ report on Friday will tell us a lot about how the third quarter is progressing as we recover from the economic shutdown earlier this year. Last week, we saw 2 positive reports on the American consumer. First, the Consumer Consumption report showed an increase of 1.9% which beat expectations and was higher than pre-pandemic levels. Second, the Consumer Sentiment Survey, which measures consumer’s attitudes towards their own financial situation and their opinion of their economic future, beat expectations and showed improvement over July’s survey. Those are both positive reports since consumer spending drives 70% of our economy. Enjoy the week!

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George Lane

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2006 65th Avenue W

Fircrest, WA 98466

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