Good Morning Everyone... Here is today's morning Update
It has been a volatile morning which seems to be the norm lately, MBS markets began the day at higher levels. Mixed economic data contributed to the price swings. Weekly Jobless Claims rose to 484K, far above the consensus forecast of 440K. The 4-week average increased to 458K. The Easter holiday may have influenced the results. The April Empire State index ( survey from a group of manufacturers across New York who report the change of indicators from the previous month ) surged to 31.9, above the consensus of 24.0. March Industrial Production increased just 0.1%, which was well below expectations. The Dow is down 25 points. Philly Fed ( survey of manufacturers located around PA ) will be released soon.
Thorsten Bernacki
Envoy Mortgage
Watertown, Connecticut
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