http://MikesDailyMarketReport.com: ISM Manufacturing PMI came in a bit lower in April at 60.7, based on forecasts of 65.0. Construction Spending also disappointed, as it was forecasted at 1.9% increase, and it just increased by 0.2% in March. Stocks are Mixed today, as NASDAQ is lone index in the Red today. There was some positive economic data out of Europe, along with lower COVID cases. This initially lowered MBS, which recovered somewhat; and it currently just down 3bps. It did test much higher levels, but we're currently at previous high levels. It may take a bit more to push it higher. Mortgage Rates are currently Unchanged from Friday's close. Yields had started higher and have subsided too; down to 1.61%.
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