http://MikesDailyMarketReport.com: Initial Jobless Claims rose to 227k this week, along with a revision of 1k to last week's numbers from 216k to 217k. The Final Revision for the Q1 GDP remained at 3.1%. It will be interesting to see what Q2 provides. Q1 was a lot of build up of Inventories during the Tariff Talk and Q2 started with the Detente between US and China Negotiations. So, it will be interesting to see how much of an impact it played. Pending Home Sales improved for May, as it rebounded from April's decline of 1.5% to increase of 1.1%; the YoY improved from being down 2.0% to being down 0.7%. Stocks started the morning in Mixed Territory and is now trading in Positive Territory. Much of the impact came from some conflicting reports on the upcoming US and China meeting at the G20. Boeing is also weighing on stocks, as it another design flaw was discovered, which will most likely delay their status of being grounded. MBS is doing well today, as it's Up 14bps, so Mortgage Rates will show improvement on their pricing. Yields have slid down to 2.02%, releasing pressure on MBS.
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