Published Date 5/9/2025
There are no data points today.
The US and China meeting this weekend, the first meeting with high level officials. US trade with China is critical and won’t be resolved for months; last year US exports to China totaled $143.5B while imports from China totaled $438.9B.
What is needed now are deals with Japan, South Korea, India, the EU, and Vietnam. China won’t happen soon or easily. Many analysts are saying that unless the levies come down, trade between the world’s two largest economies would eventually crumble after reaching almost $600B last year.
At 9:30 am ET the DJIA opened +118, NASDAQ +101, S&P +24. 10 year at 9:30 am -1 bp at 4.37%. FNMA 6.0 30 year coupon at 9:30 am +6 bps from yesterday’s close and -32 bp from 9:30 am yesterday.
This week had little economic data, next week is full of key reports. Inflation data with CPI and PPI, retail sales, University of Michigan mid-month consumer sentiment index lead the way.
Source: TBWS
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