Friday, May 14, 2021

Daily Market Report 5/14/21

 http://MikesDailyMarketReport.com:  Retail Sales had a very Big Miss today, as it was reported that April was Unchanged for MoM; and when you exclude (big ticket items) Autos, then it dropped 0.8%.  Capacity Utilization rose to 74.9% in April; and Industrial Production also rose by 0.7%.  However, Consumer Sentiment had a very Big Miss too, as it dropped from 88.3 in April to 82.8 in May.  It was expected to rise near 90.  Lastly, the Business Inventories rose 0.3% in March.  Stocks are Up today, even though there were some big misses with Retail and Consumer Sentiment numbers.  They're a bit optimistic with the news by CDC when they stated that those whom have been fully vaccinated should be ok without a mask; hoping this will further boost the economy.  MBS is Up 6bps so far this morning; so, Mortgage Rates are Unchanged from yesterday's close.  Yields have slid down to 1.64%.

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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.



Thursday, May 13, 2021

Daily Market Report 5/13/21

 http://MikesDailyMarketReport.com:  The Initial Jobless Claims continued to dwindle a bit lower, as this week's report dropped from last week's revised (higher) 507k to this week's 473k.  We have more inflation data today, from the Wholesale sector this time.  The Producer Price Index (PPI) rose 0.6% in April, while it's YoY rose 2.0% to 6.2%.  The Core PPI (excluding food and energy) rose 0.7% in April, while it's YoY rose 1.0% to 4.1%.  Stocks are back into Positive Territory after yesterday's big selloff.  Meanwhile, MBS is rebounding a bit too today, as it's currently Up 11bps and working it's way back above it's 50 DMA.  Mortgage Rates did have a slight improvement after yesterday's close, which had a few price changes to the worse; and closed Down 44bps.  Also, Yields are back below it's new Technical level (around 1.69%-1.70%).  It's currently sitting just below 1.67%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Wednesday, May 12, 2021

Daily Market Report 5/12/21

 http://MikesDailyMarketReport.com:  The CPI report made a HUGE mark on the Markets today with it's April report, which shows it's MoM skyrocketing Up 0.8%, while it's YoY lunged upward from 2.6% to 4.2%.  Whe you exclude food and energy, then you have the Core CPI (this report holds more weight due to it being more of the base), which rose 0.9% MoM and it's YoY jumped up from 1.6% to 3.0%.  A healthy economy moves at approximately 2.0% inflation.  The Fed says it's transitory, but many investors are on edge that it may stick.  Time will tell!  Right now, it's a very real concern!  As a result, Stocks are plunging!  A few more Fed Members will be speaking today.  MBS had plummeted too, which it's Down 33bps now; so, Mortgage Rates have spiked a bit higher today, as a result.  Yields shot Up to 1.68% and was testing it's 1.69% technical ceiling earlier.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Tuesday, May 11, 2021

Daily Market Report 5/11/21

http://MikesDailyMarketReport.com:  There are no data to report from the Economic Calendar.  We do have a 3 year Treasury Auction, but it doesn't have much impact on the Markets.  Tomorrow could have some catalysts to push the Markets one way or another.  We have the 10 year Treasury, which can have some impact with Mortgage Rates; but the BIGGIE is the CPI report.  Stocks are Down this morning on renewed concerns over inflation, which the CPI will report it's inflationary data for April.  It's expected to rise from 1.6% YoY to 2.3% tomorrow.  If we can stay below 2%, then the Markets may calm a bit.  If it hits above 2%, then they may snowball with their selling.  There are several Fed Members speaking today, so it's possible they may share their thoughts on this topic today too.  Meanwhile, MBS faced some tough competition yesterday with $29 billion in corporate bonds being sold ($18 billion were from Amazon); which led their pricing to worse levels.  Today, they're Down again, so far, it's down 13bps.  Pricing for Mortgage Rates are worse than yesterday's pricing.  Yields are spiking again.  They're on the verge of breaking above 3 ceiling layers (25- and 50 DMA and a technical level).  They're currently at 1.62%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.

 


Monday, May 10, 2021

Daily Market Report 5/10/21

 http://MikesDailyMarketReport.com:  There are no data to report from the Economic Calendar.  We'll start receiving data on Wednesday when we get a look at inflation, by the CPI report.  Stocks are Mixed today as we begin to wind down on the Corporate Earnings Reports.  There are a few Fed Speakers out today, which it's possible their comments could move the Markets.  Lastly, Investors are watching the Colonial Pipeline try to reopen after shutting down 45% of the east coasts energy when they received threats of a cyber attack.  MBS was fighting to go above it's 100 DMA, but have pulled back.  Lenders on the east coast may have priced in the better position and may face a reprice for the worse, as MBS pulled back a below the 100 DMA; while the west coast is seeing pricing as Unchanged from Friday's close.  Yields have risen to 1.59%, as they approach it's 25 DMA.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Friday, May 7, 2021

Daily Market Report 5/7/21

 http://MikesDailyMarketReport.com:  Today is the BIG Day for economic data!  The Jobs Data from the Bureau of Labor Statistics (BLS).  The Non-Farm Payrolls had a HUGE Miss today, as they reported only 266k jobs created for April (when they had expectations of nearly a million); and March was revised lower, going from 916k to 770k.  The Unemployment Rate rose to 6.1% as a result of these very week numbers.  However, Average Earnings rose 0.7% in April, as Employers try to entice employees back to work.  Also, the Average Workweek Hours rose 0.1% to 35.0/week.  Lastly, Wholesale Inventories rose 1.3%.  Stocks are Up, even though the economic data was very weak.  Investors are looking at it as Bad News is Good News today.  A few Fed Members are speaking today; which Neel Kashkari (a Fed Member) reiterated the Feds current stance by using today's disappointing economic data as reason that the Fed will look at outcomes, and not forecasts, as they continue with their accomodative ways.  He said that we still have a long ways to fully recover.  Meanwhile, MBS is doing quite well too!  It's currently Up 13bps, but it was much higher earlier before pulling back.  It was even above it's 100 DMA, but now is just below it.  This will lead to better pricing for Mortgage Rates today.  Even Yields had HUGE drop, when it tested the 1.45% level before pulling back to just under 1.56%.  This may give us some insight into possibilities for future movements in these Markets.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Thursday, May 6, 2021

Daily Market Report 5/6/21

 http://MikesDailyMarketReport.com:  Initial Jobless Claims dropped down to 498k in this week's report (ahead of an important data being released tomorrow, The Bureau of Labor Statistics Non-Farm Payrolls).  However, it is important to note that Continued Claims did have a slight uptick this week by about 37k.  We get our second look (with final results coming next month) at the Q1 Labor Costs and Productivity.  Labor Costs were Down by 0.3% during Q1 and Productivity rose by 5.4%.  Overall, our economic data was very healthy today!  Stocks are Mixed today, as Technology Stocks are pulling down NASDAQ.  The Q1 Corporate Earnings Reports overall continue to above expectations.  There are several members of the Fed speaking this week.  After Yellens interview on Monday, many have restated that the Fed will continue it's course and remain transparent (complete 180 degree of Yellen's comments).  This is helping Markets!  However, the Stock Market is in Over Bought Position, so Investors are looking for reasons to continue buying.  This could lead to some sort of correction in near future!  MBS is steadily making some higher grounds, as it tries to approach it's 100 DMA.  It's currently Down 3bps this morning, after closing Up 9bps yesterday.  It's not enough movement for any change in our pricing for Mortgage Rates; however, if we continue these late improvements, then we could see some improvement with our Mortgage Rates.  Yields have been trending lower too, as it's now down to just under 1.58%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Wednesday, May 5, 2021

Daily Market Report 5/5/21

 http://MikesDailyMarketReport.com:  The ADP reported only 742k in new private payrolls today, which missed the 800k forecasts.  However, March's data was revised higher from the initial at 517k to 565k.  Also, the ISM Non-Manufacturing PMI dropped in April from 63.7 to 62.7, which forecasts called for 64.3.  Both reports disappointed the Markets early on; however Stocks regained their Positive position.  Most are realizing that the ADP number, even though it missed, it's still a very good number, which we haven't seen in a long while.  Meanwhile, Janet Yellen clarified her remarks from the interview released yesterday that she wasn't trying to predict or influence the Fed into changing their stance on raising rates. MBS started a little lower today, but quickly went to "near" Unchanged levels.  They're currently sitting Up 2bps.  Mortgage Rates are currently Unchanged, as it has been pretty much this whole week.  Yields have worked it's way lower, as it tested 3 layers of resistance (25-, 50 DMA and a Technical level).  It's currently at 1.60%, just below it's 50 DMA.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Tuesday, May 4, 2021

Daily Market Report 5/4/21

 http://MikesDailyMarketReport.com:  Factory Orders disappointed in March, as many economists had expected 1.3% (some even thought higher) MoM growth; however, it came in at 1.1%.  Stocks are Down this morning after comments by Treasurer Janet Yellen.  She indicated that the Fed could raise rates much sooner if the economy begins to overheat.  MBS was higher until those comments too; and is currently Down 2bps.  Mortgage Rates remained Unchanged from yesterday's close.  Yields have slid down further (including below it's 50 DMA); and are currently at 1.59%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.



Monday, May 3, 2021

Daily Market Report 5/3/21

 http://MikesDailyMarketReport.com:  ISM Manufacturing PMI came in a bit lower in April at 60.7, based on forecasts of 65.0.  Construction Spending also disappointed, as it was forecasted at 1.9% increase, and it just increased by 0.2% in March.  Stocks are Mixed today, as NASDAQ is lone index in the Red today.  There was some positive economic data out of Europe, along with lower COVID cases.  This initially lowered MBS, which recovered somewhat; and it currently just down 3bps.  It did test much higher levels, but we're currently at previous high levels.  It may take a bit more to push it higher.  Mortgage Rates are currently Unchanged from Friday's close.  Yields had started higher and have subsided too; down to 1.61%.

Please subscribe to my YouTube Channel at MikesDailyMarketRpt

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.