Wednesday, July 14, 2021

Daily Market Report 7/14/21  Both the Producer Price Index headline number (PPI) and it's Core PPI (excludes food and energy) rose 1.0% MoM in June.  The Core PPI is now up to 5.6% YoY, which brings us to inflationary levels last seen in 2008 when price of a barrel of oil reached all time highs of $150/barrel.  Stocks are back in Positive Territory after yesterday's losses.  We will receive more Q2 Corporate Earnings Reports today; and Fed Chair Powell has testified before the House Finance Committee today.  Nothing has changed, but the Investors like hearing the message repeated.  MBS is regaining it's losses yesterday; and is Up 16bps thus far.  Yesterday, after the disappointing 30 year Bond Auction, the Market reversed and dropped.  Lenders repriced for the worse yesterday; however, today, Mortgage Rates will be better than yesterday's close; and closer to the better levels yesterday (Unchanged from those levels).  Yields had spiked to 1.41% yesterday and have now come down to just under 1.37%.

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.

No comments:

Post a Comment