Thursday, March 7, 2019

Daily Market Report 3/7/19 The Big Jobs Data will be released tomorrow, but today, we have the Weekly Jobless Claims.  The Weekly Jobless Claims improved a little bit, going from 226k the previous week to 223k last week.  Forecasts called for 225k.  Productivity for the 4th Qtr also, improved slightly.  It's 3rd Qtr was up 1.8%, while 4th Qtr grew at 1.9%.  Unit Labor Costs also grew at 2.0%, up from from the 1.6% in the 3rd Qtr.  Stocks are down as news of the ECB reducing their 2019 forecasts for the EC from 1.7% to 1.1% and trying their own stimulus for the EC.  This is a day after the Fed Beige Book showed some slower growth in the US yesterday.  MBS is currently Up 9bps, which based on yesterday's Market improvement and today's, then some Lenders may price Mortgage Rates a bit better today.  Yields have continued their slide, all the way down to 2.65% now.

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