Wednesday, April 1, 2020

Daily Market Report 4/1/20  The ADP Employment Report will be the first of 3 Jobs reports we'll receive for the month of March.  For the month of March, the ADP reported there were 27k job losses.  We also see Manufacturing slip in March, as the Markit Manufacturing PMI slips to 48.5 and the ISM Manufacturing Index slipped to 49.1%.  However, it wasn't as bad as forecasts, which were expecting in the low to mid- 40 range.  Construction Spending dipped 1.3% in February.    Stocks are Down this morning on new projections of the Death rate in the US to be expected around 100k - 240k.  President Trump warned that it could be "very, very painful" for the next 2 weeks.  MBS was down most of the morning, but just recently popped Up 2bps.  The recent drop in the MBS Market is helping Lenders to complete their pipeline, which will take some time due to the volume. This is reducing the amount of Margin Calls out there.  Meanwhile, Yields have fallen about 10bps to 0.60%.

Please subscribe to my Blog and YouTube Channel at MikesDailyMarketRpt

No comments:

Post a Comment