Market Comment

Today at 2:15pm ET, the Federal Reserve will release their Interest Rate Decision and Policy Statement. The Fed isn’t expected to change the Fed Funds Rate, but the statement could influence the markets. If the Fed reaffirms that rates will remain low for an extended period, Bonds could see a nice move higher.
In other news, the Consumer Price Index (CPI) was reported in line with expectations, signaling that inflation remains low for now. Housing Starts for November were also in line with estimates while Building Permits, which are a leading indicator of housing construction, reached the highest level seen in the past year.
Bonds are attempting to remain above a key support level. I recommend floating but I will let you know if the Fed’s statement or other news of the day requires a change of course.

Leonard Winslow, New American Mortgage
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.