Monday, February 3, 2020

Daily Market Report 2/3/20 Markit Manufacturing PMI dropped a little, from 52.4 to 51.9 in January.  While ISM Manufacturing jumped up from 47.8% to 50.9% -going from Contraction to Expansion.  Construction Spending dropped by 0.2% in December.  Stocks are rebounding after Friday's big selloff (DOW closed approximately down 600 points), which the DOW is just over 300 this morning.  The main news is, of course (still) the coronavirus, as just over 360 people have been reported to have died from it, and around 17k have been affected by it.  We're still receiving Q4 Earnings Reports, but I don't have any notables to mention.  MBS is currently Down 11bps, but Mortgage Rates remain Unchanged.  Yields are rebounding a bit (like stocks) are have climbed up to 1.57% after touching it's floor of support at the 1.509% level.

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