Market Snapshot May 14, 2019
Good Morning on this fantastic Tuesday,
Bonds are under pressure this morning as the DOW is attempting to recover from yesterday’s sell off. The news released was somewhat mixed but overall more bond friendly than not. Import and export prices both fell from last month which is good, if we hope for further rate reductions. Stocks are rebounding about 40% of what they lost yesterday so far. That is about what they should be doing. If they rebound much more than 50% it does bring in the question of whether yesterday’s move was a knee jerk or a true market direction. We will know soon. The economic data calendar does start to pick up tomorrow with retail sales, housing and inventory numbers. For now, I am cautions and holding to see how the day shapes up. I don’t see much chance of bonds taking a big hit but we may not see much benefit from floating either.
Make today great!