Thursday, June 24, 2021

Daily Market Report 6/24/21  Last week's Initial Jobless Claims were revised higher, from 412k to 418k; and this week's report came in at 411k.  This missed the forecasts of 380k, which economists were projecting.  Durable Goods revised their April data to slightly better, from -1.3% to -0.8%; and improved to 2.3%.  Some were disappointed with this number, as it missed it's forecasts by 0.5%, but when you see that it's revision was improved by 0.5%, then it's almost a wash.  Q1 GDP released it's final revision, which remained unchanged at 6.4%.  Next month, then we'll get an initial view of Q2 GDP.  Stocks are Up on news of a bipartisan agreement for the new infrastructure bill that will be about a $1 billion, and a little more than a half billion of new spending.  S&P and NASDAQ continue into new highs.  There are a few Fed Speakers scheduled today; however, there shouldnt be much impact, if they keep to the same message.  MBS are currently Up 6bps, so Mortgage Rates appears to keep moving in a sideways pattern and remain Unchanged.  Yields dipped a point to 1.48%

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