http://MikesDailyMarketReport.com: Today, we have IHS Markit PMI releasing their 2 reports, Manufacturing and Services. The Services sector dropped down to 59.7; however, the Manufacturing sector rose to 63.1 in July. Stocks continue their upward trend, based on Q2 Corporate Earnings Reports and keeping an eye toward next week's schedule of events (Q2 Earnings Reports for much of the High Tech Companies and FOMC). MBS started the morning much lower, which Lenders whom release their ratesheets earlier on may have priced for the worse; however, MBS is Up 6bps. So, Mortgage Rates should be priced now to the same pricing we found after yesterday's close. Meanwhile, Yields are sticking around the 1.29%.
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