Daily Market Report 2/11/20

http://MikesDailyMarketReport.com: The NFIB Small Business Index rose from 102.4 in December to 104.3 in January.  This index is a guage to the confidence for Small Business owners.  The JOLTS Job Openings dropped from 6.8 million in November to 6.4 million in December.  Stocks are Up this morning, as Jerome talks before Congress (Day 1 of 2).  Other Fed Members will be out speaking today, as well.  MBS is currently Up 3bps, so there's No change to Mortgage Rates.  Yields climbed up to 1.58%.

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Daily Market Report 2/10/20

http://MikesDailyMarketReport.com: There is no economic data to report today, and this week will be relatively quiet.  Stocks started in the red this morning, but since has moved into Positive Territory.  Investors are checking on China, as businesses begin to re-open after the extended holiday due to the coronavirus.  Also, the Q4 Corporate Earnings Reports will soon come to a close this week.  MBS is fighting to stay above it's previous ceiling, and hopefully, turning it into a floor of support.  It's Unchanged from Friday's close, so Mortgage Rates remain Unchanged, as well.  Hopefully, it's strong enough to stay above this line, which can lead to further improvement for Mortgage Rates.  Yields have fallen down to just under 1.56% now.

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Daily Market Report 2/7/20

http://MikesDailyMarketReport.com: We have the Jobs data being reported from the Bureau of Labor Statistics.  The Non Farm Payrolls came in much hotter than expectations (165k) in January at 225k new jobs.  The previous 2 months were revised higher by another 7k.  The Unemployment Rate rose from 3.5% to 3.6% in January due to more people entering the workforce, as the Labor Participation Rate increased.  Also, employees are making more money, as Average Hourly Earnings rose by 0.3% in January, or 3.1% YoY.  Meanwhile, Wholesale Inventories declined by 0.2% in January.  Stocks are down on the good news (regarding the Jobs data).  They are in a Over-Bought position and were forecasting that the Fed would cut rates again in June.  Because the Jobs data was so hot, then now they're thinking the Fed won't cut rates; so good news is bad news!  This is helping Mortgage Rates, as they improved today on the MBS rising 14bps so far this morning.  MBS is testing it's ceiling, but is being turned back.  We'll see if it can muster enough to break above it.  Meanwhile, Yields have fallen down to 1.59%.

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Daily Market Report 2/6/20

http://MikesDailyMarketReport.com: The Initial Jobless Claims came in under the forecast, at 202k, which is very good news, as Employers are holding onto their employees.  Tomorrow will be the big BLS Jobs data, so stay tuned!  Productivity jumped up 1.4%, as did Labor Costs for Q4.  Stocks are Up this morning on the Jobless Claims, but also reports on US/China implementing the agreement from Phase One by reducing Tariffs by half on February 14th.  MBS is currently Unchanged, as is Mortgage Rates.  It seems like MBS is benefiting from Investors balancing of their Portfolios, as they have been in line lately; typically, they move inverse of one another.  Yields are currently at 1.65%.  Both MBS and Yields are indicating undecided movements on the Japanese Candlesticks.  Be cautious, as it could sway either way, but tomorrow's Jobs data could be a catalyst for any movement.

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Daily Market Report 2/5/20

http://MikesDailyMarketReport.com: The ADP Payroll came in very hot, as it reported there were 291k new private jobs in January.  This is the first of 3 jobs reports that we'll see this week.  The biggie, will be on Friday, with the BLS Jobs data.  The next 2 reports cover the Services Industry, which show higher Optimism in January.  The Markit Services PMI rose from 52.8 to 53.4; and ISM Non-Manufacturing Index rose from 54.9% to 55.5%. Stocks are Up on the data being reported today, especially on the Jobs numbers, and the upbeat Corporate Earnings Reports that have been trickling in.  There was some possible good news being reported that some research groups in China and UK may have found some vaccinations that may be effective against the coronavirus.  MBS started much lower, and even touching it's floor of support, but is now Down 3bps.  Mortgage Rates remain Unchanged from yesterday's pricing.  Yields have climbed a bit further and currently around 1.64%.

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Daily Market Report 2/4/20

http://MikesDailyMarketReport.com: Factory Orders rose 1.8% in December, as this report is the only one out today.  We'll start to see Jobs data beginning tomorrow thru rest of week.  Stocks are Up again today, as investors appear to be shrugging off coronavirus news, and looking toward the politics.  The mess in the Iowa Caucus and probable conclusion to the Impeachment hearings seem to be a positive for Trump, and Investors seem to be liking it.  MBS is Down 12bps, so Mortgage Rates have worsened a bit today.  We may be heading for a Trend Reversal, so you may want to consider locking if you have any refinance transactions or purchase transactions due to close soon.  Yields have climbed their way back upwards to near 1.60%.

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Daily Market Report 2/3/20

http://MikesDailyMarketReport.com: Markit Manufacturing PMI dropped a little, from 52.4 to 51.9 in January.  While ISM Manufacturing jumped up from 47.8% to 50.9% -going from Contraction to Expansion.  Construction Spending dropped by 0.2% in December.  Stocks are rebounding after Friday's big selloff (DOW closed approximately down 600 points), which the DOW is just over 300 this morning.  The main news is, of course (still) the coronavirus, as just over 360 people have been reported to have died from it, and around 17k have been affected by it.  We're still receiving Q4 Earnings Reports, but I don't have any notables to mention.  MBS is currently Down 11bps, but Mortgage Rates remain Unchanged.  Yields are rebounding a bit (like stocks) are have climbed up to 1.57% after touching it's floor of support at the 1.509% level.

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