http://MikesDailyMarketReport.com: The Consumer Sentiment dropped to 76.2 in February, especially with the lower-income folks, according to the UofM Survey. Stocks are trading in Mixed Territory, as the DOW remains to be the only index in Negative Territory. We're heading into a 3 day weekend, so Investors are positioning themselves. Also, they're watching on the progress of the $1.9 Trillion Stimulus, as they're expecting the full amounts to be approved. There could be a correction, if it doesn't come thru. Also, they're keeping an eye on the vaccinations, so it will be key for more reopenings in the economy. Meanwhile, MBS is Down 11bps (was worse earlier on), which will lead Lenders to price Mortgage Rates a bit worse than yesterday's pricing (when I state worse, then it's more like an .125% difference in the rate). Yields are gaining steam and approaching 11 month highs, as it's sitting around the 1.19%.
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