Monday, August 12, 2019

Daily Market Report 8/12/19 Nothing to report on the Economic Calendar today.  Stocks are mostly following the news on US/China trade negotiations and Hong Kong.  The Yuan is getting weaker against the US Dollar, which the US has accused China of being a currency manipulator.  Also, tensions in Hong Kong continue to rise, as Police step up their tactics in a more aggressive manner, which is leading to bloodshed; as a result, the Hong Kong airport cancelled all flights because thousands of protestors are occupying the terminals.  MBS is currently Up 9bps and floating in mid-range of it's floor and ceiling.  Mortgage Rates remain Unchanged from Friday's Close.  Yields have fallen to 1.66% with it's next floor of support at 1.595%, which is the current Low point it reached about a week ago.

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