http://MikesDailyMarketReport.com: There's no major economic data to report today; however, later this morning will be the 10 year Treasury Auction. This could impact Mortgage Rates. Yesterday, the 3 year Treasury had good results, even though there were about $35 billion in Corporate Bonds competing with those investment dollars. Typically, a busy week for Corporate Bonds is $20 billion for a WEEK. Today, there will be more Corporate Bond offerings (including Walmart and Toyota). Stay Tuned! Stocks are Down today, as investors begin to rebalance their positions again for end of quarter. Most Investors are resigned to the sentiment that the Fed will taper later after August's Jobs data; even though Fed Member Bullard commented that he'd like the Fed to taper sooner than later. Also, Treasury Secretary Yellen sent a letter to Congress urging them to do something, like raise the debt ceiling, as the Treasury will only have funds to cover bills until end of October. MBS is Up 2bps, as it's held below a double layer of 25- and 50 DMA. The 25 DMA has been a tough cap for MBS, so it's worth watching. Today's auction could push MBS one direction or another. Mortgage Rates remain Unchanged from yesterday's pricing. Also, Yields slipped down to 1.35% today.
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.