The University of Michigan consumer sentiment index in June fell to the lowest level in 3 months led by more pessimistic expectation for the U.S. economy. Meanwhile inflation at the wholesale level was down by 2/10ths of a % based on the May producer price index. The combination of lower inflationary pressures and mixed economic data helped keep mortgage rates low with conforming no point 30 year fixed rates averaging 4 1/4 % and 15 year rates closer to 3 1/4.
And now for something completely different: The Seattle Mariners won 116 games in 2001, tying the 1906 Chicago Cubs for the Major League record for the most wins in a single season.
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This is Mehran Aram with today's ARAMCO Report.