http://MikesDailyMarketReport.com: We have inflation data to cover today on the Economic Calendar. The Consumer Priced Index (CPI) remained unchanged from December to January, but did decline from 1.9% to 1.6% YoY. The Core CPI (excluding food & energy) rose 0.2%, and remained at 2.2% YoY. The Stock Market is Up this morning on growing optimism over a US/China Trade Agreement, as reports indicate that President Trump will soften his stance on the "Hard" deadline of March 1st, if talks progress enough that an Agreement is close. Also, reports indicate that the tentative agreement on US Border Security will move along and avoid another Gov't Shutdown. Saudi Arabia announced a cut in their oil production, so Oil prices are rising, as a result. MBS is currently down 14bps and pushing below it's floor of support at the 25 DMA. This has Lenders pricing Mortgage Rates a bit higher today. Yields have climbed up to 2.72% and is fighting to break above it's 25 DMA and adding more pressure to Mortgage Rates.
Get the latest by following me on Twitter @MikeBjork
Please subscribe to my Blog or stop by my YouTube Channel at MikesDailyMarketRpt
Post a Comment