Monday, July 27, 2020

Daily Market Report 7/27/20 The Durable Goods Orders increased 7.3% in June, surpassing it's forecast of 6.5%.  There will be other reports this week, which includes the first look at Q2 GDP; and the FOMC starts tomorrow, with their Announcement on Wednesday.  Stocks are trading in Positive Territory, as many of the Big Tech Companies will release their Earnings Reports this week.  We're still looking at tensions with China and increasing coronavirus infections.  Some good news has the Republicans in agreement with each other on proposal for next Stimulus package, which will be brought to their counter-parts (Democrats) to negotiate.  This could be a long, drawn-out period.  MBS is currently Up 9bps, as it is currently off of it's Opening High.  Mortgage Rates remain Unchanged from Friday.  Yields continue to add pressure to it's floor of support, as it resides just above 0.58%.

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