IEF

iShares 7-10 Year Treasury Bond ETF

Data from Freddie Mac shows that the average rate for a 30-year fixed-rate mortgage was 6.35% as of Friday, down from 6.5% last week.

Consumer price index (CPI) rose 0.4% in August on a seasonally adjusted basis, after rising 0.2% in July.

In an interview with CNBC, Rubenstein stated that the Fed’s monetary policy action next week will be on predictable lines.

In an interview with CNBC, El-Erian was reacting to the August PPI report, which showed wholesale inflation declined by 0.1%.

The producer price index, which is a gauge of prices that producers get for their goods and services in the open market, edged lower by 0.1% in August.

According to a Bloomberg report citing data from the Mortgage Bankers Association, the interest rate on a 30-year mortgage declined by 15 basis points to 6.49% for the week ended September 5.

The annual adjustment by the BLS revealed a downward revision of 0.6% in total nonfarm employment, which is higher than the 0.2% average over the past decade.

At the time of writing, the 10-year Treasury yields were down three basis points to 4.055%, while the 2-Year T-bill yields hovered around 3.488%, down one basis point.

The firm expects the Fed to deliver a 25-basis-point rate cut each in September and December.