Daily Market Report 1/22/19

http://MikesDailyMarketReport.com: Today, we only have the Existing Home Sales on the Economic Calendar, which slowed up from 5.32 million in November to 4.99 million annualized units in December.  A lot of this can be contributed to the higher interest rates, which started it's rise in October, then started it's decline in late December; also, the Government Shutdown may have played a partial role, which home buyers need certain services from the Government, which may have delayed the process.  Stocks are down this morning, as the IMF reduced it's Economic Forecast from 3.7% to 3.5%; and China released Economic data that shows it's slowest pace in 30 years, as the President warns his Cabinet of the dangers of this slowdown.  Also, reports show the US may formally request extradition of the Hauwei CFO from Canada, which may further complicate talks with China.  Stocks are down on the Geo-Political news, as MBS is up 13bps for some relief in pricing for Mortgage Rates.  Yields have dropped down to 2.75%.

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Daily Market Report 1/18/19

http://DailyMarketReport.com: We have a few items on the Economic Calendar today.  The Industrial Production rose 0.3% (in line with forecast) in December.  Capacity Utilization rose from 78.6% to 78.7% in December.  Meanwhile, Consumer dropped from 98.3 to 90.7, which is most likely due to sentiment of the prolonged Gov't Shutdown.  Stocks are on fire this morning, as a WSJ report came out yesterday, which the White House refuted, that the US Negotiators my hold back on the Tariffs on the Chinese, as a gesture of Good Faith.  Investors are feeling very optimistic about it, as the Stock Market continues to heat up!  MBS broke thru an important floor of support yesterday, and is testing it's next floor ( the 25 DMA).  As a result, Mortgage Rates rose today.  Yields are climbing today, and are currently at 2.79%.                                                                                       

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Daily Market Report 1/17/19

http://MikesDailyMarketReport.com: Housing Starts and Building Reports data will be delayed due to the Gov't Shutdown.  Today, we have the Weekly Jobless Claims, which came in at 213k.  Today's number is important because it represents the "Sample" number for the BLS' Jobs Report for January, which should look strong based on this number.  Also, Manufacturing improved in the Philly area, which the Philly Fed Index increased from 9.1 to 17.  This was on the heels of a disappointing number for the NY area yesterday.  Stocks started trade in the Red, but have since improved to Mixed.  Banks continue to disappoint in Q4, as Morgan Stanley missed, and comments by French Bank Societe Generale, only reinforced what most Banks are stating is a poor Capital Markets is dragging their numbers down.  MBS is currently down 6bps and testing the floor of support again.  Yields have risen to 2.74%.  Mortgage Rates have remained steady most of this week, as it trades in a sideways pattern.                                                                       

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Daily Market Report 1/16/19

http://MikesDailyMarketReport.com: Because of the Gov't Shutdown, we're not receiving a full report of Economic Data, such as Retail Sales, which would have been released today.  However, the Home Builder's Index shows it's confidence rising in January from 56 to 58.  Later today, the Fed Beige Book will be released, which will allow Investors to review the Micro Economics of the US, as each regional Fed reports it's findings.  The Stock Market is trading in Positive Territory, as BofA and Goldman Sachs have hit their Q4 numbers.  Also, lifting the Investors moods are news that China will be injecting $83 Billion into their Economy.  Later today, there will be a Vote of No Confidence for Theresa May in the UK after the defeat of her Brexit proposal yesterday.  It is expected that she will survive the vote.  MBS is down 6bps this morning and testing the Floor of Support.  Rates are about the same as it's been all week, as it's been trading in a Sideways pattern.  Yields have climbed up to 2.73%.                                                               

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Daily Market Report 1/15/19

http://MikesDailyMarketReport.com: On today's Economic Calendar is Inflation news in the Wholesale Sector for the month of December.  The Producer Price Index dropped 0.2%, while the Core PPI (excluding food & energy) dropped 0.1%.  Manufacturing data from the NY region had a sharp decline, as the Empire State Index dropped from 11.5 to 3.9 in January.  The Stock Market is trading in Positive Territory this morning, even on the heels on disappointing numbers from Chase (2nd large bank in a row to report), as China announces Stimulus Package to boost the Markets.  Later tonight, the UK Parliament will vote on the Brexit proposal, which doesn't seem too popular.  Both MBS and Yields are sitting in Unchanged Positions (moving side-ways), so there's been no change in pricing for Mortgage Rates.                                                                                                           
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Daily Market Report 1/14/19

http://MikesDailyMarketReport.com: There are no economic news to report today.  The Market is reacting to disapppointing Import/Export Data from China, which is re-hashing Investors' concerns over a Global Economic Slowdown.  Also, Q4 Corporate Earnings Reports start off the week, which Citi Group missed and is bringing down the Financial Sector.  The Gov't Shutdown is ongoing, which is now the longest on record.  Stocks are Down on the disappointing news from China and some of the Q4 Corporate Earnings Reports that were released.  MBS is currently unchanged, along with Yields (2.70%) from Friday's close, so pricing on Mortgage Rates remain the same.                                                                                         
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Daily Market Report 1/11/19

http://MikesDailyMarketReport.com: Today, only the Consumer Price Index data was released on the Economic Calendar for the month of December.  CPI dropped 0.1% from November, and it's YoY dropped from 2.2% to 1.9% due to the drop in Oil prices.  The Core CPI (removing food and energy) rose 0.2%, which it's YoY remained unchanged at 2.2%.  This report is important to the Fed when gauging inflation on the consumer level, even though the PCE is favored more so.  This is the data that helps to determine if they continue with their rate hikes.  They like to see that the YoY level to keep at the 2.0% level, which is healthy for the economy.  Stocks are rising off their earlier lows this morning (still in negative territory at the time this was created).  MBS is benefitting from the "flight to safety", as investment dollars are moving from Equities to Bonds.  It's currently up 17bps, which is an improvement in Mortgage Rates.  Yields have slide down to 2.70%.                                                                                                                               
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