Wednesday, February 5, 2020

Daily Market Report 2/5/20 The ADP Payroll came in very hot, as it reported there were 291k new private jobs in January.  This is the first of 3 jobs reports that we'll see this week.  The biggie, will be on Friday, with the BLS Jobs data.  The next 2 reports cover the Services Industry, which show higher Optimism in January.  The Markit Services PMI rose from 52.8 to 53.4; and ISM Non-Manufacturing Index rose from 54.9% to 55.5%. Stocks are Up on the data being reported today, especially on the Jobs numbers, and the upbeat Corporate Earnings Reports that have been trickling in.  There was some possible good news being reported that some research groups in China and UK may have found some vaccinations that may be effective against the coronavirus.  MBS started much lower, and even touching it's floor of support, but is now Down 3bps.  Mortgage Rates remain Unchanged from yesterday's pricing.  Yields have climbed a bit further and currently around 1.64%.

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