http://MikesDailyMarketReport.com: Happy St. Patrick's Day! Today, we have Retail Sales, which dropped 0.5% in February; and when you remove Autos, then it dropped 0.4%. However, Industrial Production rose 0.6% in February. Capacity Utilization rose from 76.8% to 77.0% in February. Home Builders are feeling a little less confident in March, as the NAHB Home Builder's Index went from 74 in February to 72 in March. Business Inventories dropped 0.1% in January. Stocks are trying to rebound after the worst trading day since October 1987, as the DOW dropped 3k. Right now, it's Up about a 100. The coronavirus is having a major impact on the US and Global Economy, as it's coming to a complete shutdown in order to contain the spread; and there are warnings that this might even last deep into summer. At this point, a recession is a matter of when, not if. MBS is currently up 6bps, after starting in negative territory. Mortgage Rates remain Unchanged. There's still a bit of capacity issue with Lenders. I'm seeing some positive movements, but we're not quite there yet. Yields have worked their way up to .77%.
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