Industrial Production and Capacity Utilization
Today’s only relevant economic data was August's Industrial Production report at 9:15 AM ET. It revealed a 0.6% jump in output at U.S. factories, mines and utilities, exceeding forecasts of up 0.1% by a fairly wide margin. Since that is a sign of manufacturing sector strength, we should consider the data bad news for bonds and mortgage rates. Fortunately, this is not one of the more important reports we get each month. Therefore, we haven’t seen a noticeable reaction to the news.