Daily Reads 6/12/2019
Hi, everyone. For Wednesday, we look at consumer prices and how their lake of increase might indicate inflation. We see U.S. payroll wages cool as trade war impacts the economy. Mortgage rates are at their lowest rates in two years. And a new regulation limits brokers use of the title of ‘adviser’ versus ‘advisor’.
U.S. consumer prices barely rose in May, pointing to moderate inflation that together with a slowing economy could increase pressure on the Federal Reserve to cut interest rates this year.
U.S. employers added the fewest workers in three months and wage gains cooled, suggesting boradereconomic weakness.
Mortgage rates dropped to their lowest level in nearly two years, so total mortgage applications surged 26.8% in just one week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was 41% higher than a year ago.
Brokers who are only brokers will have to be less cavalier in describing themselves as financial advisers, thanks to an advice reform package approved last week by the Securities and Exchange Commission.
The power lunch has turned into the coffee talk, power walk or beer run for workers who don’t have three hours to fritter away, but still make time to network outside the office.