Monday, March 2, 2020

Daily Market Report 3/2/20

http://MikesDailyMarketReport.com: Markit Manufacturing PMI dropped to 50.7 in February, which was down from 50.8 in January.  The Markit Services PMI dropped from 50.9% in January to 50.1% in February.  Construction Spending rose by 1.8% in January.  Stocks are trying to rebound after it's worse week since the Credit Crisis in 2008 last week.  There is talk that the Fed could potentially cut rates by 0.5% this month and again in Q2.  Personally, I don't think this will matter, and it's out-of-touch with reality, as this has nothing to do with resolving the coronavirus issue.  Meanwhile, MBS continues it's steep climb and is currently Up 41bps, as Mortgage Rates continue to Improve.  Yields have fallen more (down to just under 1.09%) and potentially could reach or fall below 1.0%.  We're currently at All Time Lows.

Please subscribe to my Blog and YouTube Channel at MikesDailyMarketRpt


No comments:

Post a Comment