Tuesday, April 28, 2020

Daily Market Report 4/28/20

http://MikesDailyMarketReport.com: The Case Shiller Home Price Index rose from 3.9% to 4.2% in February, which indicates the Real Estate Market heating up prior to coronavirus.  Consumer Confidence dropped from 118.8 to 86.9 in April.  Stocks started the morning Up, but has since drifted into the Red.  The optimism from yesterday, as many parts of the economy begin to re-open.  Oil has slid a bit again to $12/barrel, raising concerns.  Some major Tech Corporate Earnings will be release after hours this week.  Also, the Fed will begin their 2 day meeting today, with their announcement tomorrow.  There aren't any expectations to any rate movement, but investors will listen intently to any changes of current policy, such as their Bond purchases.  MBS is Up 11bps, so Mortgage Rates see a slight improvement in their pricing today.  Yields have fallen down to 0.61%.

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