Market Snapshot May 13, 2020


Good Morning on this best day of the week Wednesday,


Stocks sold off big-time right into the close the yesterday. It looked as if things would be better today, as the futures were up all through the night. However, Chairman Powell stated that he fears the recession will be deeper and last longer than many are thinking. The equity and bond markets seem to be connected once again as they should be, at least a little and at least for now. So, this sell off in stocks has helped bonds get a very needed bounce off of a critical support level. The 10-yr is back to .65% and in the middle of the trading range.


Some of the items Mr. Powell is surely looking at when assessing the future health of the economy were shared in the WSJ. I am including just a few of the more interesting data…


The monthly decline in the core CPI was the largest on record:

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This map shows the year-over-year changes in rate lock activity (borrowers locking in mortgage rates):

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Please remain safe and stay healthy, make today great!