Friday, March 15, 2019

Daily Market Report 3/15/19 Manufacturing seems to be weakening, as we have 3 data points to view today.  Starting with the Empire State Index (Manufacturing in the NY region) dropped from 8.8 to 3.7 in March, as most forecasts had it rising to approximately 10.  Industrial Production rose only 0.1% in February, as most forecasts called for 0.4% increase.  The Capacity Utilization dropped from 78.3% to 78.2% in February.  Again, forecasts called for a higher number (78.5%).  However, some better news, is Job Openings increased in January from 7.5 million to 7.6 million.  Also, Consumer Sentiment rose from 93.8 to 97.8 in March.  Stocks are trading in Mixed Territory (DOW is lone index in Negative Territory) based on Economic Data and comments from Chinese and US Officials over the Trade Talk.  MBS is Up 13bps, which will provide Mortgage Rates a little boost in pricing today.  Yields have fallen a bit this morning, as they are now down to 2.58%.

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