Wednesday, August 21, 2019

Daily Market Report 8/21/19 Existing Home Sales jumped up from 5.29 million annualized units in June to 5.42 million in July.  The FOMC Minutes will be released at 11am PST.  Investors will be searching for clues behind the Fed's thoughts on past Rate Cut and insight into future Rate Cuts.  Stocks are trading in Positive Territory, as the Earnings Reports wind down.  Target and Lowes, coupled with Home Depot (yesterday), show that Retail Sales are still going strong.  The Italian Prime Minister Conte resigned, so volatility in Yields may calm a bit.  MBS is currently Down 3bps, which is not enough to alter Mortgage Rates Pricing, so they remain Unchanged.  Yields are currently 1.57%, and still trying to push ahead of it's Ceiling of Resistance, which has been proving to be strong.

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