Monday, October 5, 2020

Daily Market Report 10/5/20 The ISM Non-Manufacturing PMI dipped a little in September, as it went from 57.8 to 56.9.  This is still in expansion territory!  Stocks are Up, as it is being reported on President Trump's recovery from COVID is improving, and he may be released from Walter Reed today.  Investors are reviewing the Election Polls and any hope for a Stimulus Package to be done soon.  Meanwhile, MBS has Dropped 22bps and have been testing it's double-layer of support (25- and 50 DMA).  This will tend to lead to a little bit higher Mortgage Rates today (usually about 0.125% to the rate).  Yields have skyrocketed above another Technical level and sit at 0.76%.  We'll see if they can hold this level.

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