Wednesday, October 21, 2020

Daily Market Report 10/21/20 No economic data to point out today.  The Stock Market is Up again today on continued optimism, as the White House and House are working on a deal for new stimulus; however, this could get help up by the Senate, whom have been calling for a smaller Stimulus package.  The Fed Beige Book, which provides us with a Micro view of the economy around the various regions in the US, will be released later today.  Q3 Corporate Earnings Reports continue to be released, whch a headline for Netflix disappointed, as they lost subscribers due to protests over one of their films (deemed highly inappropriate).  Like yesterday, we have a few more Fed Members speaking today.  MBS started the morning much lower and has since pulled back to being Down 6 bps from yesterday's close.  Yesterday, we were in this level, before pulling back.  We're in similar lows that we saw a few weeks ago; however, Yields didn't break the Technical level around 0.79%.  Yesterday, they broke above it, and sit just under 0.81% now.  Mortgage Rates are a little worse today, as a result.

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