Market Snapshot April 17, 2019

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Good Morning on this fantastic Wednesday and best day of the week,

 

Bonds sold down to a technical line in the sand yesterday with the 10-yr at 2.59% and mortgage bonds off as well. That was so yesterday and today, they are stronger. They are strong this morning and it is about time. The 10-yr topped at 2.60% and is now down to 2.58% (we could see some improvements from here to 2.55%). Mortgage bonds are +15bps right now which is a good thing. Not much US news this morning other than wholesale inventories which missed expectations. China reported better than expected GDP at 6.4% (how does China’s economy continue to grow at 6-10% and we languish at 1-2%?). Members of the ECB shared concerns that Europe’s economy will not rebound and will fall further. This a bit problematic in this global economy we are in. If Europe falls, it will impact the US and Asian economies.  Later today the Fed Beige book will be released, this may have some interesting insights into the economy.

 

Cautiously optimistic right now.

 

Make today great!