Daily Market Report 5/20/19

http://MikesDailyMarketReport.com: There are no economic data to report from the Calendar today.  Stocks are being driven by the continued tensions between the US and China, as both parties agree they won't be meeting any time soon, as neither side is willing to negotiate further.  Also, US Companies are preparing to holdback on any business relationships with Hauwei, as they will be limited on what they may sell to them.  Stocks are trading in Negative Territory.  MBS is down 2bps, but it's not enough to change pricing on Mortgage Rates, so they remain Unchanged.  Yields are currently at 2.39%.

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Daily Market Report 5/17/19

http://MikesDailyMarketReport.com: Consumer Sentiment jumped up from 97.2 in April to 102.4 in May.  Leading Indicators are Up 0.2% in April.  Stocks are down on concerns that China won't come back to the negotiations based on all the previous events.  MBS is currently down 3bps, but it's not enough to have any movement with the Mortgage Rates, so Mortgage Rates remain Unchanged from yesterday.  Yields have come down to 2.40%.

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Daily Market Report 5/16/19

http://MikesDailyMarketReport.com:  Initial Jobless Claims improved last week, as only 212k applied for benefits (vs. 228k the previous week).  Housing Starts improved in April, as they rose from 1.168 million annualized units in March to 1.235 million in April.  Also, Building Permits, which are future Housing Starts, rose from 1.288 million in March to 1.296 million annualized units in April.  Manufacturing had a nice uptick in Philadelphia, as it did in NY area earlier this week, as it's Philly Fed Index indicated that it jumped up from 8.5 to 16.6 in May.  Stocks are really liking the Economic Data today, as the DOW up more than 200 so far, as they place the US/China tensions on hold for at least for a moment.  It appears that Huawei may have a more difficult to obtain any of their products from US companies, like their microchips, as the US is planning to add them to a list preventing any US Companies sell them any goods.   MBS is currently down 8bps, which is not enough movement to change pricing, so Mortgage Rates remain Unchanged.  Yields rebounded up to 2.41%.

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Daily Market Report 5/15/19

http://MikesDailyMarketReport.com: After a big month in March, Retail Sales declined by 0.2% in April; when you exclude Autos, then it declined by 0.1%.  The Empire State Index reported an improvement in Manufacturing in the NY region, as it went from 10.1 in April to 17.8 in May.  Industrial Production dropped 0.5% in April, which Capacity Utilization dropped from 78.5% to 77.9% in April.  Business Inventories remained still (0.0%) in March.  The NAHB Home Builders Index reports that Home Builders are more confident in May, as the index jumped from 63 to 66.  Stocks started the morning in Negative Territory, but has since moved into Positive Territory.  The negative number in Retail Sales, coupled with the Uncertainty with the US/China Negotiations, soured Investors earlier on.  Also, theres were a few poor economic data being reported out of China today too.  MBS is Up 9bps, so Mortgage Rates will Improved based on today's movement and yesterday's positive movement.  Yields have slid down to 3.37%.

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Daily Market Report 5/14/19

http://MikesDailyMarketReport.com: NFIB Small Business Index rose from 101.8 to 103.5 in April, as Small Businesses gain a little more confidence in the economy and overall Market.  Stocks are rebounding a bit today, as yesterday was a sheer sell-off.  There appears to be a softening in the tone between the US and China, so Stocks are trading in Positive territory.  The threats have simmered a bit, and a bit more positive conversation dialogue was being presented.  MBS is Up 2bps, so Mortgage Rates will remain Unchanged from yesterday's pricing.  Yields remain at 2.41%.

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Daily Market Report 5/13/19

http://MikesDailyMarketReport.com: No economic data to report today.  The driving force behind the Markets is a continuation from last week's tension in Trade talks between US and China, which have become more heightened.  After US raised Tariffs on $200 Billion of Chinese goods from 10% to 25%, the Chinese did the same on $60 Billion US goods.  The US is threatening to tariff the remaining $325 Billion Chinese goods, if they continue to retaliate; whereas, China is coming back with other retaliation measures, such as dumping US Treasuries.  Obviously, that could disrupt the Markets tremendously, as China is one of the largest holders of US debt.  Stocks are taking a bloodbath, as the DOW is down more than 500 this morning.  MBS is Up 9bps, so couples with last week's gains, will lead Lenders to better pricing for Mortgage Rates.  Yields have slid down to 2.41%.

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Daily Market Report 5/10/19

http://MikesDailyMarketReport.com:  Consumer Price Index rose 0.3% in April, as it's YoY increased from 1.9% to 2.0%.  When you remove the volatile and uncontrolled substance, as Food and Energy, then you have the Core CPI, which rose 0.1%; and it's YoY rose from 2.0% to 2.1%.  As have the week went, Stocks have been reacting on the news on the tensions surrounding the China/US Trade Talks.  The 25% Tariff on $200 Billion of Goods went into effect at 12:01am today.  However, there will be a slight grace period, as the goods in transit will still be under the 10% Tariffs.  It takes approximately 2 weeks for transits to cross the ocean.  Meanwhile, China has promised to retaliate.  President Trump has also brought up adding the 25% Tariffs on the remaining $325 Billion Goods that will typically come across, so it will be 25% across the board.  Negotiations were brief yesterday, so they're hoping to get back on track today.  There's not much movement with MBS, as they're only Up 2bps, so Lenders kept Mortgage Rates Unchanged.  Yields are up to 2.44% now.

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