Thursday, September 10, 2020

Daily Market Report 9/10/20  Initial Jobless Claims remained unchanged from last week's report of 884k people applying for unemployment, which was a little hotter than it's forecast of 846k.  Inflation in the Wholesale Sector rose in August, as the Producer Price Index rose 0.3% MoM; and it's Core PPI (excluding food and energy) rose 0.4%.  Lastly, the Wholesale Inventories dropped in July by 0.3% MoM.  Stocks are trading in Positive Territory this morning.  The ECB gave their announcement earlier in the morning, as they left their interest rate at -0.5% and stated that they feel the Q3 and Q4 will show improvement.  There were some concerns regarding the strength of the Euro asked upon Christine Lagarde whom felt the stronger Euro isn't a concern at this time.  MBS is trading between a range of it's 25 DMA (ceiling) and 50 DMA (floor); as it's currently Down 9bps and testing the 50 DMA.  This isn't enough for Lenders to worsen pricing; so, Mortgage Rates remain Unchanged from yesterday's pricing.  Yields have climbed a bit further today, as they now sit around 0.72%.

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