The U.S. stock market posted strong gains on Thursday, while the bond market was hit with heavy selling. Mortgages lost over .625% in price during the day, forcing lenders to post mid-day price changes for the worse.
This morning Thomson Reuters/University of Michigan reported its consumer confidence survey had risen to 75.5, the highest reading since January 2008, however, this optimism was not present in the Retail Sales data, when the Commerce Department reported retail sales fell 1.2% in May.
U.S. stock markets are trading slightly lower on this data, while treasury and mortgage bonds are gaining back some of Thursday’s losses.
Enjoy your weekend!
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