Thursday, May 9, 2019

Daily Market Report 5/9/19  We finally have some Economic data to report today.  We'll start with the Weekly Jobless Claims, which 228k people applied for benefits last week.  The previous reporting had 230k, so we'll need to watch this index for continued trend or just a temporary movement.  Inflation in the Whoesale sector rose 0.2% in April, as the Producer Price Index.  Wholesale Inventories dropped 0.1% in March.  Stocks are way down again today, as the saga continues between the US and China on their Trade Negotiations.  This event has been dominating the Investors concerns this whole week.  China has sent their delegation to Washington today.  Meanwhile, MBS is Up 9bps this morning.  But yesterday, we closed down 9bps, so this will bring Lenders to keep Mortgage Rates the same as yesterday's pricing.  Also, Yields have slid down to 2.43%.

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