http://MikesDailyMarketReport.com: The Leading Economic Indicator Index rose 0.8% in December, after it's November's number was revised from 1.1% lower to 0.7%. Next week will provide plenty of data, such as Housing data, GDP and Consumer Inflation (with the Fed's favorite gauge for inflation -PCE). Also, Investors will be waiting on the FOMC to finish on Wednesday and listen for any new information on the Fed's tightening policy, including it's reduction of it's Balance sheet. Meanwhile, Q4 Corporate Earnings are being released and it seems like they're underperforming, as stocks not only are declining for today, but the week. A few indices are approaching correction territory. MBS is currently Up between 16-19bps, which will be enough for Lenders to come out with better pricing for their Mortgage Rates. Yields broke below it's Technical floor and testing a new Technical floor. It's currently sitting just under 1.76%.
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.