Monday, May 6, 2019

Daily Market Report 5/6/19 It's a light week for economic data, which there's none to report today.  So, we're taking our direction today from Geo-Political news.  President Trump tweeted that he will raise the $200 Billion in Goods imported from 10% to 25% by Friday, if a deal is not completed.  These were the same warnings earlier in the year, but the US held off while the talks continued in good faith.  This surprised the Markets, as they felt the completions of negotiations were imminent.  Stocks are deep in the Red this Morning.  MBS is Up 6bps, but not enough for Lenders to change Mortgage Rates from Friday's pricing, so they remained Unchanged.  Yields have rescinded down to 2.49%.

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