January 9, 2019

Market News

Stocks are off to a nice start on Wednesday, bolstered by increasing optimism surrounding the propensity of a trade deal between the world’s two largest economies.  Since bottoming out on December 24th, the S&P500 is now trading about 10% higher.  YTD, the S&P500 is 3.14% higher, and is currently trading at 2,586.64, 0.47% higher.

Treasuries are little changed in the AM as investors patiently await the arrival of the Federal Reserve Minutes for the December meeting at 2PM EST.  Investors will be perusing the statement for details concerning the justification behind the FOMC’s latest adjustment.   The Fed raised interest rates four times in 2018, with the latest hike garnering the most scrutiny from market participants.  The U.S. 10-Yr Note is currently trading at 2.7172%, 0.0108 lower.

 

Josh Pappert – VP, Capital Markets
Nations Direct Mortgage