Data below was originally created and published for and by TBWS rate lock advice on 6-12-11

This Week; after a week with little economic data markets will have plenty. Two inflation reports, May PPI and CPI; although we don't see any increase in inflation----at least the way markets see it---excluding the increasing prices of food and energy, prices are increasing and consumers are feeling it. Consumer credit continues to decline as most are doing their personal jobs of balancing the books while politicians and the Fed continue to spend as if there is nothing to fear. A few weeks ago the May Philly Fed, the NY Fed, and the Richmond Fed districts shocked markets with extremely weak reports on the regional economies; this week the June indexes from those districts will be released. Two reports on manufacturing the May decline in manufacturing jobs, the first declines in months, with industrial production and factory usage. May housing starts and permits also will be released; likely another disappointment.

Treasury and mortgage rates at record low levels will be tested; the stock market is likely to continue to decline in the wake of what now is irrefutable slowing of the economy. Meanwhile credit remains hard to get, especially in the home mortgage sector with the Fed, Congress and the Administration fiddling while the economy falters (again); until mortgage credit becomes more normal and less restrictive the US economy will struggle. No double dip recession, but no significant improvement in employment or consumer spending. The bond and mortgage markets likely have little left in the recent decline in rates but equally we see little reason for interest rates to increase given the weakening economic outlook. This week's economic data will set the tone for the week.