http://MikesDailyMarketReport.com: Retail Sales had a very Big Miss today, as it was reported that April was Unchanged for MoM; and when you exclude (big ticket items) Autos, then it dropped 0.8%. Capacity Utilization rose to 74.9% in April; and Industrial Production also rose by 0.7%. However, Consumer Sentiment had a very Big Miss too, as it dropped from 88.3 in April to 82.8 in May. It was expected to rise near 90. Lastly, the Business Inventories rose 0.3% in March. Stocks are Up today, even though there were some big misses with Retail and Consumer Sentiment numbers. They're a bit optimistic with the news by CDC when they stated that those whom have been fully vaccinated should be ok without a mask; hoping this will further boost the economy. MBS is Up 6bps so far this morning; so, Mortgage Rates are Unchanged from yesterday's close. Yields have slid down to 1.64%.
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