Market Snapshot August 3, 2020


Good Morning on this Fantastic Monday,


The markets continue to defy logic. Stocks and bonds both up yet again. The 10-yr is holding at .56% and anything below .58% is bond friendly. I kind of sense the rally in bonds is starting to fade a bit and would not be surprised if we see a pullback. Then again, I have been saying the same about stocks and have egg all over my face. The news today was mixed with construction spending missing expectations and falling to negative territory and Manufacturing Index beating expectations. This week is employment week with ADP Wednesday, Unemployment claims Thursday, and the jobs report on Friday. I think the unemployment situation is going to be messy, but I am also not sure how much benefit there would be to floating rate locks at this time. Congress is still working on the next stimulus/bonus unemployment package as that extra $600/week ran out in July. Congress goes on vacation next week for the month of August so hopefully there is movement this week.


Please remain safe and stay healthy, make today great!