Monday, March 29, 2021

Daily Market Report 3/29/21  There are no economic data to report today; however, we'll receive March Jobs data this week, starting with ADP on Wednesday.  Stocks are currently in Mixed Territory after being in Negative Territory early on due to an unexpected selloff by a large Hedge fund manager.  They dropped off $30 billion into the Market, which has led other investors to research which sectors and and stocks are affected; needless to say, it was a big disruption.  We will expect some choppiness over the next few days, as the 1st Quarter ends; and Fund Manager rebalance their portfolios to meet expected economic recovery and higher Yields.  Speaking of higher Yields, they're spiking as we speak.  They've pushed up to 1.71% so far.  Meanwhile, MBS was looking good until it just didn't and is currently Down 14bps.  This has led Lenders to reprice already this morning to worse pricing for Mortgage Rates.

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Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then please direct message me.

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