Monday, July 6, 2020

Daily Market Report 7/6/20 We have some data from the Services Sector today.  We'll start with the Markit Services PMI for the month of June, which rose from 46.7 to 47.9.  It's counter-part, the ISM Non-manufacturing Index, which is also the "gold" standard for this data, rose from 45.4% to 57.1% in June.  Anything above 50 is considered expansion.  This bode well for the Markets today.  Stocks are Up on optimism on continued growth of the economy, despite the rising covid infections.  MBS is Up only 2bps, so Mortgage Rates hold steady and remain Unchanged in pricing.  Yields have crept up, above the 50 DMA and it's next technical ceiling, and currently sits just under .70%.

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