Thursday, April 14, 2022

Daily Market Report 4/14/22  Initial Jobless Claims rose 18k to 185k last week; however, the Continuing Claims declined.  Retail Sales rose only 0.5% in March, as gas prices and inflation seem to be affecting many US households and their buying behavior.  But in April, Consumers felt a bit better, as the Consumer Sentiment showed an improvement from 59.4 in March to 65.7 in April.  I jokingly commented that it had to do with Spring Break ;)  However, Business Inventories increased 1.5% in February.  Hopefully, this is signs of improvement with the Supply Chain issues.  Markets Closed early today, as only the DOW closed in Positive Territory.  The Big news story is Elon Musk's bid to buy Twitter!  Meanwhile, Q1 Earnings Reports have been Mixed with Financials.  A few Fed Members, and some Economists, have been saying this week that they think the Inflation may have peaked; so, it may gradually decline.  The only thing propping prices higher is gas prices.  However, if those higher prices persist, then those costs eventually have to be handed over to the consumer.  I guess we'll wait and see.  MBS had started the day higher, which only declined throughout the short day!  It closed Down 64bps, as Mortgage Rates jump up!  Yields spiked to 2.83% today.  There simply isn't any appetite for investors to buy bonds at this time, especially with where inflation stands; and this is having a profound effect on rates.

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