Monday, December 16, 2019

Daily Market Report 12/16/19 There was some slight improvement in the manufacturing sector for the NY region, as the Empire State Index rose from 2.9 to 3.5 in December.  Markit PMI released their 2 reports (Manufacturing and Services industries).  The Manufacturing dropped slightly from 52.6 to 52.5 in December; while the Services rose from 51.6 to 52.2.  Meanwhile, the Home Builders Index rose from 71 to 76 in December.  Stocks are Up on the optimism from Friday's Trade announcement, which is taking investment dollars from Bonds/MBS, so MBS is Down 23bps.  This will translate to a little worse pricing for Mortgage Rates today (compared to Friday's pricing).  Also, Yields have climbed Up to 1.88%.

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