Posted To: MBS Commentary

After weeks and weeks spent discussing the impacts on growth surrounding coronavirus, we're only now getting to the very first release of GDP for Q1. Forecast consensus is -4.0. There will be 2 additional revisions in the 2 following months and it won't be until late July that we finally see the first release of Q2 numbers. In the meantime, more timely data like weekly Jobless Claims will continue to be significantly more relevant. The other focal points for econ data this week include Pending Home Sales on Wednesday, Chicago PMI on Thursday and ISM Manufacturing PMI on Friday, May 1st. Notably, NFP will not be out on Friday even though it's the first Friday in May. Wednesday's Pending Home Sales may be the first of the housing data that shows the sort of massive downtick that…(read more)

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Source: Mortgage News Daily