http://MikesDailyMarketReport.com: 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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