Good Monday, AM from your Hometown Lender,

Happy Cinco De Mayo!

This will be a busy news week for sure, just not today. Markets are going to be consolidating between now and Wednesday, when the Fed releases its policy statement and we hear from Chairman Powell on the Fed’s short-term path. There is zero chance of a rate cut on Wednesday, and markets, which before the jobs report last Friday, had predicted a 60%% chance of a cut in June, have now pared that back to less than 30% (which is why we are seeing the 10yr note move from 4.20% last week to 4.37% today).

There is not much economic news to share…

Warren Buffett announced his retirement over the weekend. He’ll step down at the end of the year.  

Did you know that the homeownership rate in Mexico is 66%, which is marginally higher than it is in the US?

Stay safe and make today great!