Friday, March 29, 2019

Daily Market Report 3/29/19 There's a bit of data to report today.  We're still getting delayed data because of the Gov't Shutdown.  We'll start with Personal Income, which rose only 0.2% in February (forecasts called for 0.3% increase).  Consumer Spending rose only 0.1% in January (forecasts called for 0.2% increase).  Core Inflation rose only 0.1% in January, as it's YoY dropped from 2% to 1.8% -below the Fed's target rate of 2%.  New Home Sales beat expectations of 625k for February, and came in at 667k annualized units.  Manufacturing simmered a bit in Chicago region in March, as the Chicago PMI dropped from 64.7 to 58.7.  Consumer Sentiment rose from 97.8 to 98.4 in March.  Stocks are trading in Positive Territory on the mostly positive data and the news of continued progress between the US and China's Trade Talks.  They will continue their talks next week in the US.  MBS is down 8bps, so coupled with yesterday's down day, Mortgage Rates will be slightly worse today.  Yields have steadily climbed up to 2.42%.

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