http://MikesDailyMarketReport.com: Retail Sales dropped 8.7% in March; and when you exclude Autos, then it dropped 4.5%. Manufacturing in the NY region had a steep decline, as it came in -78.2. Industrial Production dropped 5.4% in March. Capacity Utilization dropped from 77.0% to 72.7% in March. Business Inventories continued with their decline in March, by dropping 0.4%. Home Builders Index, which measures the confidence level for Home Builders had a sharp decline in April, as it went from 72 to 30. Later today, we'll get to view the Fed's Beige Book, as it provides more of a Micro View of the economy in the US, as each region posts their data. Stocks are trading in Negative Territory, as the Economic data and Q1 Earnings Reports have been very disappointing to Investors. MBS is Up 20bps this morning, as Mortgage Rates show some Improvement after it's recent decline this week. Yields are currently hanging just under 0.65%.
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