Sometimes, it’s important to step back and pay attention—specifically to the 10-year Treasury’s monthly auctions.

Why, you ask? Here’s why: if you’re an investor expecting yields to continue rising, holding off on buying bonds would seem prudent. However, bond managers who took that approach were caught off guard last month.

Yesterday, demand for bonds surged, proving them wrong.

Producer Price Index, which measures wholesale/Producer inflation rose 0.2% in August. Slightly higher than expected but going in a downward direction from 2.1 to 1.7%. Part of this drop in inflation was due to lower energy prices.

Initial Jobless Claims changed little and inline with expectations.

CoreLogic Equity Insights reported homeowners with mortgages saw an equity rise 8% year over year. 62% of all properties have a mortgage attached.

Interesting Stats:

• 136M total households in the US
• 91M homes owned – 67% homeownership rate
• 56.5M homes currently have a Mortgage – 62%
• 34.5M owned free and clear – 38%
• 45M homes rented – 33%

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