Personal Income and Outlays
January's Personal Income and Outlays report was posted at 8:30 AM ET, revealing a 10.0% spike in income and a 2.4% rise in spending. The income jump is being attributed to economic stimulus payments that went out and not an organic rise in wages. Spending was close to forecasts, but it also is being skewed by those stimulus payments being spent. The important inflation within the data, that the Fed watches closely, nearly matched expectations. Generally speaking, the report is neutral for bonds and mortgage rates.