http://MikesDailyMarketReport.com: Durable Goods Orders rose 2.4% in December, but if you remove Transportation from those numbers, then it dropped 0.1%. The Defense made large purchases at the end of the year, which skewed the numbers abit, as business investments declined. However, we have a few other data with more positive news, like the Case Shiller HPI rising from 3.2% in October to 3.5% in November; and Consumer Confidence rising to 131.6 in January. The FOMC will begin their 2 day meeting today, which they will provide their announcement tomorrow. Everything has been relatively quiet from the Fed-side of things, so nothing is really expected from them. Unless they abruptly make any changes, then the Markets should be not affected by this event. Stocks are regaining some of their losses after yesterday's big selloff. We may not see the end of the stock decline though. This coronavirus may linger a bit longer, thus pushing stocks further down. This is helping Mortgage Rates, as MBS is currently Up 2bps, so there's no change in pricing from yesterday's close.Yields are rebounding a bit too, as they have climbed up around 1.64%.
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