Wednesday, September 23, 2020

Daily Market Report 9/23/20

 http://MikesDailyMarketReport.com: We have reports from Markit PMI for the month of September to report today.  The Market Manufacturing PMI rose from 53.1 to 53.5; and the Markit Services dipped from 55.0 to 54.6.  These are MoM from August to September numbers; and anything above 50 represents expansion.  Stocks are Down, even though they initially started positive, this morning.  It's a culmination of a variety of headline news, which has Treasury Secretary Mnuchin and Fed Chair Powell testifying for the 2nd day before another subcomittee in the House.  Johnson & Johnson becomes the 4th manufacturer to begin the final stage for COVID vaccination testing.  US and China are showing some more tit for tat type of behaviors, as President Trump calls out China for their role in the spread of the Coronavirus Pandemic; and China is considering blocking the sale of TikTok to US companies.  Investors are also concerns over possible legal hurdles that may take place after the US elections, as both parties fight for control.  There are a number of Fed members speaking today, which we don't anticipate any surprises, as the FOMC made their announcement last week.  MBS is currently Up 2bps, so Mortgage Rates continue to move sideways and remain Unchanged.  Yields are testing their 25 DMA and another Technical level; and currently sit near 0.68%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com



Tuesday, September 22, 2020

Daily Market Report 9/22/20

 http://MikesDailyMarketReport.com:  Existing Home Sales improved from 5.86 million annualized units in July to 6.00 million in August.  Meanwhile, Stocks are trading in Mixed Territory, as the DOW is lone index in the Red.  Some of the sentiment from yesterday is continuing into today's trading.  Investors are watching for possible renewed lockdown measures in Europe; and the heated debates between the 2 political parties regarding the replacement of RBG and any stimulus packages.  Treasury Mnuchin and Fed Powell are testifying before House Finance Committee this morning.  MBS is only Up 2bps, so Mortgage Rates remain Unchanged today.  Yields having swings that challenge both it's 25- and 100 DMA is currently sitting between the 2 lines (around 0.67%).

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com



Monday, September 21, 2020

Daily Market Report 9/21/20

 http://MikesDailyMarketReport.com:  There are no economic data to report today, so Markets are looking to the headlines today.  Stocks are WAY Down this morning on concerns of more restrictions in Europe, as they saw some of their COVID Cases rise.  Also, a major news article from Buzzfeed, which other outlets followed, on some Major Banks working with some very notorious people (not in a good way) on Money Laundering schemes.  Also, Investors are seeing if there is any impact on the death of US Justice Ginsberg and possible replacement, as politics heats up.  They're also watching for any news on an Stimulus package, which they still view as being necessary in a recovery.  MBS is currently Up 13bps, so Mortgage Rates are improved from Friday's close.  We should be on par with pricing found last Wednesday.  Yields are Down (below both it's 25- and 100 DMA) to just under 0.66%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com



Friday, September 18, 2020

Daily Market Report 9/18/20

 http://MikesDailyMarketReport.com:  The Consumer Sentiment improved so far in September, as it jumped to 78.9 from August's 74.1.  The Leading Economic Indicator had a positive revision in July, going from 1.4% to 2.0%; however, it dropped to 1.2% in August.  Stocks are all in the Red this morning, threatening to ruin this week's gains in the Market.  There is a Quadruple Witching in today's trading action, which will create a lot of this volatility in the Stock Market.  We had a few Fed Speakers speak today, which are having some impact, especially with the Bond Market, as Fed Member Bullard discussed possibilities of inflation rising (inflation is the enemy to Bonds), which included a bottleneck in the supply chain.  MBS started the morning higher, only to give up those gains.  We're currently Down about 2bps.  All week, we've been going in a sideways pattern; so, there hasn't been much, if any, movement with Mortgage Rates this week.  Yields continue their slight incline, as they grapple with it's 25 DMA and a Technical Level (just above it).  It's currently sitting around 0.69%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com



Thursday, September 17, 2020

Daily Market Report 9/17/20

 http://MikesDailyMarketReport.com:  The initial Jobless Claims reported 860k people applying for first time unemployment last week, which is down from 893k in it's previous report.  Housing Starts pulled back in August, as it went from 1.49 million annualized units in July to 1.42 million in August.  Also, Building Permits dropped from 1.48 million in July to 1.47 million in August.  Manfacturing in Philadelphia region was down a little bit, but still in decent territory, in it's September report for Philly Fed Manufacturing, as it came in at 15.0.  Stocks are Down this morning, as Investors' mood were less optimistic of a quick recovery.  The Fed is providing all the right tools, which is positive, but they also indicated all of the unknowns and indicated this could be longer than what most had hoped for.  MBS started the day much higher, but has since rescinded and is only Up 3bps (below it's 25- and 50 DMA); so, Mortgage Rates remain Unchanged from yesterday's pricing.  Yields are still testing both their floor and ceiling, but have been sitting in the space between it's 25- and 100 DMA.  It's currently at 0.68%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com



Wednesday, September 16, 2020

Daily Market Report 9/16/20

 http://MikesDailyMarketReport.com: Retail Sales MoM of 0.6% was a bit of disappointment for Investors this morning; and when you exclude Autos, it only went up 0.7% for August.  Not to be surprised, but NAHB Home Builders Index rose from 78 to 83 in September, as confidence is rising among Home Builders.  Business Inventories only increased by 0.1% in July.  Stocks have been in Mixed Territory, but have since moved in Positive Territory, as it awaits the FOMC Announcement and it's Press Hearing.  This will be a very interesting Press Hearing after the Fed announced a "Big" change to their policy about 2.5 weeks ago.  There will be a lot of questions and interest to see if it was a prelude to something more to come (being announced at this meeting).  MBS is currently Down 2bps; however, Mortgage Rates remain Unchanged from yesterday's pricing.  Yields still sit between it's 25 DMA and 100 DMA; just under 0.68%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com



Tuesday, September 15, 2020

Daily Market Report 9/15/20

 http://MikesDailyMarketReport.com: The Manufacturing in the NY region spiked in September, as the Empire State Index reports it went from 3.7 in August to 17.0 in September.  Industrial Production Index reported an increase of 0.4% in August; while Capacity Utilization improved from 71.1% in July to 71.4% in August.  Stocks are Up this morning on some Tech News, as some Mergers being announced (like NVidia's announcement); and Apple will present some of their new product lines today.  The FOMC begins their 2 day meeting today and provide their announcement tomorrow.  This will be an interesting meeting, as media and investors have a lot of questions for the Fed regarding their big announcement about 2.5 weeks ago with their new "average" inflation target related to jobs policy change.  MBS lost their footing later in the day yesterday, as the Stock Market had begun to heat up, and closed down 9bps.  This morning, it's currently Down 5bps, so Lenders will price Mortgage Rates a little worse today.  Yields are trying to break above it's 25 DMA and currently sits at 0.68%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com