Wednesday, February 27, 2019

Daily Market Report 2/27/19 Pending Home Sales jumped up 4.6% in January, as it points to a pretty strong Spring Home Buying Season.  Factory Orders rose only 0.1% in December, which disappointed, as it was forecasted to rise 0.5%.  Stocks are Down this morning, as they may be losing some steam (been in an Over-bought position since Mid-January).  Fed Chair Powell is giving his 2nd Testimony to Congress today.  Lighthizer is giving his Testimony to the House Ways & Means Committee regarding the Trade Talks with China.  Presidents Trump and Un are meeting in Hanoi today.  There appears to be some building tension between India and Pakistan, as Investors will watch to see if it escalates further.  MBS is down 12bps and testing it's 25 DMA.  Mortgage Rates rose slightly today on this decline.  Yields have risen to 2.69% and testing it's 25 DMA, as well.

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