Monday, September 21, 2020

Daily Market Report 9/21/20  There are no economic data to report today, so Markets are looking to the headlines today.  Stocks are WAY Down this morning on concerns of more restrictions in Europe, as they saw some of their COVID Cases rise.  Also, a major news article from Buzzfeed, which other outlets followed, on some Major Banks working with some very notorious people (not in a good way) on Money Laundering schemes.  Also, Investors are seeing if there is any impact on the death of US Justice Ginsberg and possible replacement, as politics heats up.  They're also watching for any news on an Stimulus package, which they still view as being necessary in a recovery.  MBS is currently Up 13bps, so Mortgage Rates are improved from Friday's close.  We should be on par with pricing found last Wednesday.  Yields are Down (below both it's 25- and 100 DMA) to just under 0.66%.

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