Industrial Production and Capacity Utilization
Today’s sole relevant economic release was September's Industrial Production data at 9:15 AM ET. It showed a 0.3% rise in output at U.S. factories, mines and utilities. Analysts were expecting it to show a 0.2% increase, meaning industrial production was a little stronger than thought last month. Because stronger economic activity makes bonds less appealing to investors, this report was unfavorable for mortgage rates. However, it is only a moderately important piece of data and has had a minimal impact on today’s rates.