http://MikesDailyMarketReport.com: Personal Income dropped by 4.2% in May; whereas, its counter-part, Consumer Spending rose 8.2% in May. Both the PCE and Core PCE rose by 0.1% in May. The PCE's YoY dropped from 0.6% in April to 0.5% in May; whereas, the Core PCE remained Unchanged at 1% in May. Consumer Sentiment declined from initial 78.9 to 78.1 for final revision to June, which was probably due to the Mass Protests and Riots. Meanwhile, Stocks are Down again over concerns of rising cases of Covid-19 . Investors are reviewing the latest updates on the Banks Stress Tests released yesterday evening and the loosening of restrictions of the Volcker Rule on Banks. The ECB's Christine Lagarde stated that she feels that we're past the low point of the pandemic, however, there's still the possibility of a 2nd wave. MBS is doing well today, as they're Up 19bps; so Mortgage Rates are improving more today. Yields are falling, and currently sit around 0.63%.
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