Wednesday, May 20, 2020

Daily Market Report 5/20/20 The FOMC Minutes will be released around 11am PST today, but we don't anticipate any news from these notes.  Stocks are Up this morning on good earnings reports from retailers (like Target and Lowes).  MBS is currently Up 11bps, and yesterday, it closed Up 27bps, so you can expect better pricing with Mortgage Rates today.  The Fed is purchasing up to $4.5 Billion of MBS today.  There is a Bond Auction today, so it's possible to have an adverse reaction to the Market, if it isn't successful.  Yields are currently sitting at 0.71%

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