Daily Market Report 7/12/21

 http://MikesDailyMarketReport.com:  Nothing really on the Economic Calendar; however, there are some Treasury Auctions this morning (3yr and 10yr).  The 3yr didn't go as well as hoped and did negatively affect the Markets (usually it doesn't impact); and the 10yr came in rather decent, which wiped out the negative movement caused by the 3yr.  Stocks are Mixed today, as NASDAQ is the lone index in the Red.  Investors are primarily looking ahead for this week's data.  This week, we have the beginning of Q2 Corporate Earnings Reports, Fed Chair Powell's semi-annual Testimony and a new look at Inflation data (CPI and PPI).  The G20 is going on with Finance Ministers meeting to discuss a Global Tax.  The Global Tax is for Multi-National Corporations whom position themselves to avoid paying too much in taxes.  The Finance Ministers are trying to place a Minimum Corporate Tax globally to make it more difficult.  This isn't affecting the Markets, but something to watch for down the road.  MBS is currently Up 6bps, which will leave Mortgage Rates Unchanged from Friday's close.  Yields are currently settling into the 1.36% range.

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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.

Daily Market Report 7/9/21

 http://MikesDailyMarketReport.com:  Wholesale Inventories rose 1.3% in May.  Meanwhile, Stocks are rebounding today, after a bit of a pullback the last few days.  They're expected to end the week on a high note.  Investors are torn between "good news and Fed tapering sooner" and "bad news and keeping the easy money flowing".  Next week, they'll have a bit more of a distraction, as Corporations release their Q2 Earnings Reports.  Currently MBS is Down 22bps, so Mortgage Rates are off by about an .125% to it's rate.  They and Yields are currently looking for it's next range, so we'll experiences some of these up and down effects for a bit, until it's found; and move onto it's next range (whether it rises or drops again).  Currently, Yields shot up to 1.36%.

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.

Daily Market Report 7/8/21

 http://MikesDailyMarketReport.com:  The Initial Jobless Claims revised last week's report from 364k to 371k; and reported this week at 373k.  However, we are still seeing a dropoff in the Continued Claims (by nearly 150k) from last week.  Stocks are Down on the trend of Yields dropping today.  Investors are changing their worries of surging inflation to is this all the growth we'll see (?) attitude.  Yields seem to be falling more on a Technical level, which has many Investors confused.  It touched near a new Technical level (1.25%) and is currently sitting at 1.29%.  Investors are also keeping an eye on the new Delta variant and it's potential impact, as Japan appears to be tightening measures to keep a lid on it's spread.  It appears that the Olympics will continue; however, without fans.  The FOMC Minutes were released yesterday, and nothing new was really found from it.  The talk about tapering is expected around September and potential happening of the tapering may begin around November (at the earliest); however, the data that the Fed is watching is still aways off before they anticipate any action.  MBS is currently Up 17bps (off from it's earlier highs, and earlier lows for that matter).  Lenders are coming out with better pricing today (compared to yesterday's ratesheet).

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.

Daily Market Report 7/7/21

 http://MikesDailyMarketReport.com:  Later today, the FOMC Minutes will be released, which will be our most impactful economic data for this week (as it will be a rather light week).  However, the BLS released a report showing that there were 9.2 million Job Openings for the month of May.  The Markets are holding back today, as NASDAQ goes into the Red.  MBS are currently Up 6bps, but it's still within our range yesterday, after it pulled back some to close +22bps.  This basically means that Mortgage Rates remain Unchanged from yesterday's pricing.  Yields continue their decent, as it hit 1.31%, and it currently about 1.32%.

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.

Daily Market Report 7/6/21

 http://MikesDailyMarketReport.com:  The drop in the ISM Non-Manufacturing PMI, from 64.0 in May to 60.1 in June, added fuel to the fire today, as trading was very light until the report was released.  Stocks are all in Negative Territory this morning.  This piece of data is really the only thing being reported today, which is having the most impact with the Markets.  However, MBS is Up 27bps, so Mortgage Rates have seen an improvement with their pricing today.  Yields have fallen below another Technical level to just under 1.37%.  These levels haven't been seen since end of February/early March.

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.

Daily Market Report 7/2/21

 http://MikesDailyMarketReport.com:  We receive Job data from the Bureau of Labor Statistics (BLS) today, for  which is the catalyst we've been waiting all week.  The Average Earnings rose only 0.3% in June, while the Average Work Week (in hours) dropped to 34.7 hrs.  The Non-Farm Payrolls came in above estimates, at 850k for June; however, it's Unemployment Rate rose to 5.9%.  The Unemployment Rate rose because more people entered the workforce.  Investors are liking the Jobs data enough to feel it's "not too hot, nor not too cold", whereas the Fed would pull it's tapering too soon.  As a result, Stocks are in Positive Territory today.  Opec+ decided to delay any decisions on supply cuts, so Oil remained at $75/barrel.  MBS is Up 9bps and topping it's 25-, 100- and testing it's 50 DMA.  Mortgage Rates are seeing some improvement with their pricing today.  Yields are testing lows (below 1.44%) today; and currently sit at 1.43%.  This movement could be the catalyst to keep Yields lower for a little bit.

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.

Daily Market Report 7/1/21

 http://MikesDailyMarketReport.com:  The Initial Jobless Claims dropped to 364k last week, which is a new low since the Pandemic hit; so, solid numbers!  The ISM Manufacturing dropped from 61.2 in May to 60.6 in June.  The data disappointed, but is still solid, as anything over 50 is in expansion territory.  Manufacturing is dealing with large backlogs of new orders while dealing with supply and labor shortage issues.  Lastly, Construction Spending dropped 0.3% in May.  Stocks are in Mixed Territory, as NASDAQ is being weighed down by higher Yields (up to 1.48% currently).  There are a few Fed Speakers, so Investors will keep a close ear to what they say. OPEC+ is meeting to discuss a pullback of approximately 500k/day in barrels production, as oil futures top $75/barrel.  The WHO announced a 10% spike in cases in Europe, which broke a 10 week decline.  Investors will monitor the situation, as it could potentially lead to renewed lockdowns in the future.  MBS ended up closing down 2bps yesterday, which I indicated a possible trend reversal.  Today, it's currently Down 6bps.  Mortgage Rates have not changed; however, Lenders can do a Lender reprice for the worse, if this trend continues.  Tomorrow will be the Big Day for economic data, as the BLS will release it's Non-Farm Payrolls and Unemployment data.  Investors will be looking for a "Goldilocks" number, so it's not too hot, or too cold.  They want the economy to progress, but not at a pace that will drive the Fed to taper too much, too quickly.

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.