Vital Statistics:
| Last | Change | |
| S&P futures | 3360 | 23.6 |
| Oil (WTI) | 38.95 | 1.19 |
| 10 year government bond yield | 0.74% | |
| 30 year fixed rate mortgage | 2.88% |
Stocks are higher this morning as it looks like Trump’s health is improving. Bonds and MBS are down.
The week after the jobs report is usually pretty data-light, and this week is no exception. That said we have a lot of Fed-speak this week. The big driver for bonds will be Trump’s health.
Forbearances ticked up slightly last week, according to Black Knight Financial Services. Private label and portfolio forbearances are increasing while GSE are falling.
The Daily Tearsheet 