Thursday, July 2, 2020

Daily Market Report 7/2/20 The Markets will close at 11am PST today and will be closed tomorrow in observance of Independence Day.  The data that would normally be released tomorrow, are released today.  The big report, Nonfarm Payrolls provided 4.8 million jobs in June.  Unemployment Rate fell to 11.1%.  Average Hourly Earnings dropped 1.2% in June.  The Weekly Initial Jobless Claims continued trending lower (albeit at a slower pace) to 1.43 million.  Factory Orders jumped up 8.0% in May.  Stocks started  Up much higher on the news of the jobs data, but have subsided quite a bit when news of some states pulling back on re-opening the economy, as the US hit a new high of 52k new cases of covid-19 on Wednesday.  They're still up, but off from earlier highs.  MBS was in negative territory, while stocks were up, but has moved into positive territory again, and currently Up 11bps.  Yields had initially broke thru all of their ceilings and tested their 25 DMA; but has scaled back to 0.67% (below their ceilings).

I will be moving to a new Lender, whom is National, so they can do loans in 48 states.  If you'd like to discuss your loan scenario, then either DM me from this social media site, or feel free to contact me via my personal email for now, as I'll be going thru a licensing transitioning period.  my personal email is

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