Wednesday, April 29, 2020

Daily Market Report 4/29/20 The initial view of Q1 GDP shows the economy dropped 4.8%, which is on the heels of Q4 being up 2.1%.  Pending Home Sales dropped 20.8% in March.  The FOMC wraps up their 2 day meeting today, which Fed Chair Powell will provide his announcement at 11:30am PST.  Stocks are Up this morning on positive news from Gilead.  MBS are also Up 13bps, which Lenders will have improved pricing today.  Yields are currently sitting around 0.60%.

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