Mike Bjork's (mbjork) Blog

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Mortgage and Lending - Evolve Bank & Trust - NMLS #275652
RECENT BLOG POSTS
http://MikesDailyMarketReport.com:  ADP reported 247k new jobs for Private Payroll in April, which came in much lower than forecast.  ISM Non-Manufacturing PMI dropped from 58.3 in March to 57.1 in April, which it slowed with the Services sector, like it's counterpart in Manufacturing in yesterda...
05/04/2022
http://MikesDailyMarketReport.com:  Factory Orders exceeded expectations for March and rose by 2.2% on forecasts of 1.1%.  Also, February's data was revised from -0.5% to +0.1%.  The Fed begins their 2 day meeting (FOMC), which they'll be providing their announcement tomorrow.  It is widely expec...
05/03/2022
http://MikesDailyMarketReport.com:  Manufacturing appears to be weakening, as inflation and supply chain issues mount, as the ISM Manufacturing PMI dropped from 57.1 in March to 55.4 in April.  Anything above 50 is still considered expansion with this index.  A side note, Construction Spending ca...
05/02/2022
http://MikesDailyMarketReport.com:  There's a lot of important Economic Data being released today, which I'll touch on some of it after I list the reported data.  Employment Costs (initial) rose 1.4% for Q1.  Personal Income rose 0.5% in March while Consumer Spending rose 1.1%.  The Personal Cons...
04/29/2022
http://MikesDailyMarketReport.com:  The Initial Jobless Claims dropped again to 180k, as Continued Claims have shown signs of continuous declines.  All good news, as people are going back to work!  However, the initial reading for the Q1 GDP reported a drop of 1.4%, after posting an increase of 6...
04/28/2022
http://MikesDailyMarketReport.com:  According to the Economic Calendar, we have Pending Home Sales for the month of March, which it dropped 1.2% from February's numbers.  It came in at 103.7k seasonally adjusted units.  There was an Auction for both the 2 year and 5 year Treasuries, which didn't ...
04/27/2022
http://MikesDailyMarketReport.com:  Durable Goods improved by 0.8% in March.  We have 2 Home Price Indexes (HPI) for February being released today.  The first is Case Shiller HPI, which measures the 20 largest Metros in the US, rose to 20.2% YoY; and the FHFA HPI, which measures homes with Confor...
04/26/2022
http://MikesDailyMarketReport.com:  There are no economic data to report today; however, this week will be packed with important data being released.  Friday will be the BIG day this week, as the PCE will be released.  Investors are hoping that inflation data has peaked, so we can hopefully see i...
04/25/2022
http://MikesDailyMarketReport.com:  The Markit PMI released their data for 2 sectors, Manufacturing and Services for the month of April.  The Manufacturing rose to 59.7 in April; while Services dropped to 54.7.  Anything above 50 is considered expansion.  Investors continue to review the Q1 Corpo...
04/22/2022
http://MikesDailyMarketReport.com:  Manufacturing in the Philadelphia region dipped in April, as the Philly Fed Index dropped from 27.4 in March to 17.6 in April.  The number for April is still pretty good, but the steep decline is something to monitor.  Meanwhile, Initial Jobless Claims dropped ...
04/21/2022