Market Snapshot November 9, 2017
Good Morning on this Thursday,
For the most part, groundhog’s day. Bonds did leak a bit heading into the close yesterday and also opened a bit in the red today (red is bad when it comes to bond pricing/trading). The 10-yr edged up to 2.32% and Mortgage bonds were off 17bps. Since then, the Senate released their version of the new and improved tax plan. Most changes not happening until 2019, and it will be tough to reconcile the senate bill with the House’s and so with that and corporate earning in question, stocks dropped. The Dow down 230 helping bonds make a comeback. The 10-yr not at 2.32% and Mortgage bonds at -4bps. Probably worth seeing where this goes today before making any decisions. Tomorrow is an important Federal Holiday, Veteran’s Day and with that, the US markets are closed.
Short and short…
Make today great!