Friday, March 20, 2020

Daily Market Report 3/20/20 Existing Home Sales jumped Up in February, going from 5.42 million annualized units in January to 5.77 million in February.  Because the Market has dramatically shifted from then, we can almost disregard this data.  Stocks started the Day in Positive Territory, which it was beginning to slow down in to Negative Territory, as I was preparing this report.  There is talk of a Stimulus package that will send funds out to people, but nothing has been finalized.  Goldman Sachs released a horrifying report that we should expect approximately 2.5 million initial jobless claims as soon as next week.  Just last week, it spiked to 281k; and the highest we saw around the Credit Crisis was around 600k.  If this comes true, then it would dramatically dwarf the events of the Credit Crisis, as we're seeing swings in the Market that are more severe.  Many states are telling their people to remain home, unless there is essential business.  MBS is going thru some of it's worst cycles, and is ever changing by the minute.  We're currently down 62bps; and Yields are down to .94%.  There's so much going on that very difficult to keep up.  You'll get more info, if you watch the video, so be sure to watch it!

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