Tuesday, February 12, 2019

Daily Market Report 2/12/19

http://MikesDailyMarketReport.com: We have 2 items on the Economic Calendar today.  The NFIB Small Business Index, which measures the confidences level within Small Businesses dropped from 104.4 to 101.2.  This is the  lowest reading since November 2016.  Part of the change was due to the Gov't Shutdown; but the ongoing #1 issue has been to locate qualified applicants for their job openings.  Speaking of Job Openings, they jumped from 7.2 million in November to 7.3 million in December.  Stocks are flying high today, as there was an announcement that there was a tentative agreement between both parties on the Border Security.  Also, there is optimism on the China Trade Talks.  MBS is down 9 bps, which will translate to a little higher pricing for Mortgage Rates.  Yesterday's graph will look worse than it was, as the Bonds had their Rollover, which translated an extra 11bps worse pricing.  However, this doesn't affect the Rate sheet pricing.  It's just a reset on MBS when they start their next 30 day batch to sell on Wall Street.  So, their net loss yesterday was -8bps.  Meanwhile, Yields have climbed up to 2.68%.

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