Tuesday, January 21, 2020

Daily Market Report 1/21/20

http://MikesDailyMarketReport.com: There are no economic data to report today.  Stocks are taking a bit of a breather today, after a long weekend, and the continuous build-up on stocks.  The IMF reported that they revised their 2020 world economic outlook, which was revised lower by 0.1%, including the US.  President Trump touted the strong economy in the US at the World Economic Forum in Davos, Switzerland.  Asian Markets have been negatively affected over the concerns of a possible outbreak of a serious virus.  The Q4 Corporate Earnings continue to be reported.  Nothing major to report.  It's been more like "Goldilocks" effect -Not too hot, nor not too cold.  MBS is currently Up 9bps, so this improvement and coupled with the late improvement on Friday, should have Mortgage Rates in a slightly better pricing picture today.  Yields have fallen and are testing it's Fibonacci level again.  It's sitting around 1.78% currently.

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