Daily Market Report 9/10/21

 http://MikesDailyMarketReport.com:  The Producer Price Index (PPI) rose 0.7% in Aug.  It's Core PPI (excludes food and energy) rose 0.6%; however, it's YoY rose from 6.2% in July to 6.7% in Aug.  The PPI measures inflation on the Wholesale sector.  This index doesn't always receive the Market's respect, as it doesn't always carry over to the Consumer Market.  Lastly, the Wholesale Inventories continued the pace of 0.6% growth in July.  Stocks started the morning in Positive Territory after Biden's address yesterday, which he is looking to mandate vaccinations on a Federal level.  Investors are hopeful that this will help to fully reopen the economy.  Also, Biden apparently had positive conversation with his Chinese Counter-part yesterday, easing some geopolitical concerns.  More Fed Members, including Cleveland's Fed Member Mester, are stating they weren't swayed by the latest Jobs data and still feel the Fed should begin tapering this year.  The FOMC will be in 2 weeks, so we may hear an announcement regarding this sentiment from Fed Chair Powell after the meeting.  Meanwhile, MBS is currently Down 5bsp, so this isn't enough to alter Mortgage Rates, which will remain Unchanged.  Yields climbed a little today, and are Up to 1.33%.  MBS and Treasuries weren't much affected by the PPI because of the decline on the month-over-month (MoM), which the Fed has said it is transitory.

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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 9/9/21

 http://MikesDailyMarketReport.com:  Initial Jobless Claims came in at it's lowest level since March 2020, as it was reported that only 310k applied for first time unemployment benefits.  The 30 year Bond Auction went well, as did yesterday's 10 year Treasury Auction.  This has helped Mortgage Rates, which we'll touch on in a bit.  Meanwhile, Stocks are Down today.  The ECB announced they will reduce their asset purchases, but are not calling it tapering.  Seems like it's more or less semantics; however, the Market responded positively to it's announcement.  Investors are watching for any further announcements by Biden, as it's being reported that he may mandate more vaccinations for federal employees.  Lastly, NY Fed Member Williams commented that the Fed is still on track to taper this year.  As you may recall, most Investors were resigned to believe the Fed won't begin tapering until next year after last Friday's dismal Jobs data.  If this rhetoric continues, then watch for any possible change in Market Sentiment.  MBS is Up 14bps after the Auction, as Mortgage Rates improve today.  Also, Yields have dropped down to 1.29%.  Both broke past their 25- and 50 DMA.

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 9/8/21

 http://MikesDailyMarketReport.com:  There's no major economic data to report today; however, later this morning will be the 10 year Treasury Auction.  This could impact Mortgage Rates.  Yesterday, the 3 year Treasury had good results, even though there were about $35 billion in Corporate Bonds competing with those investment dollars.  Typically, a busy week for Corporate Bonds is $20 billion for a WEEK.  Today, there will be more Corporate Bond offerings (including Walmart and Toyota).  Stay Tuned!  Stocks are Down today, as investors begin to rebalance their positions again for end of quarter.  Most Investors are resigned to the sentiment that the Fed will taper later after August's Jobs data; even though Fed Member Bullard commented that he'd like the Fed to taper sooner than later.  Also, Treasury Secretary Yellen sent a letter to Congress urging them to do something, like raise the debt ceiling, as the Treasury will only have funds to cover bills until end of October.  MBS is Up 2bps, as it's held below a double layer of 25- and 50 DMA.  The 25 DMA has been a tough cap for MBS, so it's worth watching.  Today's auction could push MBS one direction or another.  Mortgage Rates remain Unchanged from yesterday's pricing.  Also, Yields slipped down to 1.35% today.

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 9/7/21

 http://MikesDailyMarketReport.com:  Light week, this week, for economic data!  The biggest factors for us (mortgage related) will be the Treasury and Bond Auctions being held throughout the week.  Today, we have the 3 yr Treasury (at the time of this video, it's results weren't released).  Stocks are trading in Mixed Territory again today, as they are still reviewing the Non Farm Payrolls released from last Friday.  Now, Investors are resigned to the sentiment that the Fed won't announce any taper until end of the year; and possibly start tapering early 2022.  Meanwhile, MBS started the morning in a deep dive (down about 19bps), but (luckily) reversed most of the losses and is currently Down about 6bps.  Most Lenders released their ratesheets after the rebound, so Mortgage Rates should be Unchanged from Friday's close (however, there may be some whom printed early on, whom may released worse pricing).  Fortunate for us, MBS is outperforming Yields, which is currently Up to 1.36%; but did touch off 1.38% early on.  This volatile effect with MBS and Yields are due the Auctions for Bonds and Treasuries this week, which creates more supply in the Markets.  They will be competing amongst each other, along with Corporate Bonds, for investment dollars.  

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 9/3/21

 http://MikesDailyMarketReport.com:  Today is the BIG Day for Investors, as they await the BLS' Jobs data.  Even though there was some positive revisions (approximately 150k) to the previous 2 month's data, Investors are very disappointed with the 235k number that the BLS reported for August.  However, the Unemployment Rate still dropped from 5.4% to 5.2% in August.  Average Earnings rose 0.6% in August, which is a bit concerning, as this will be inflationary data.  The Average Workweek remained Unchanged at 34.7 hours/week.  Lastly, the ISM Non-Manufacturing PMI dropped from 64.1 in July to 61.7 in August.  Anything above 50 is considered Positive/Expansion.  Stocks are in Mixed Territory, as there are 2 Camps battling it out.  Those whom believe the Fed will continue to taper this year; and those whom think it will be delayed.  This data has created a lot of Uncertainty, which we may not have info from the Fed to go on until we hear from Fed Chair Powell and some of the other Fed members.  They will meet later this month.  We're seeing that uncertainty with MBS today, as there were some wild swings in both directions; and it's currently Down 8bps.  Depending upon when the Lender came out with their pricing, then Mortgage Rates should look much like yesterday's pricing; but it's possible that it may be a little worse too.  Especially, as they may take a more conservative approach heading into a long weekend (Labor Day weekend).  Yields are climbing so far; and are just under 1.33%.  Normally, this BIG miss would have been good for both Markets, but the Uncertainty between the 2 factions are pulling money out of both Markets ahead of the long weekend!

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 9/2/21

 http://MikesDailyMarketReport.com:  Initial Jobless Claims dropped about 14k from last week's report, to 340k applying for first time benefits.  Also, it was released that the Challenger Layoffs dropped by nearly 3 million and Continuing Claims dropped by about 150k.  This could set up for an interesting day tomorrow, as Investors await the Non Farm Payroll and Unemployment data from the BLS.  Meanwhile, Labor Costs final Q2 revision came in at 1.3%, which may be due to employers enticing employees to return to work; and this will create more inflation concerns ahead.  Also, Productivity's final Q2 came in at 2.1%.  Lastly, Factory Orders rose 0.4% in July.  Stocks are pretty slow today and in Mixed Territory (NASDAQ lone index in Red), as Investors await Jobs data from BLS tomorrow.  MBS is currently Up 2bps and had a few bigger swings in both directions earlier this morning; however, Mortgage Rates have remained Unchanged from yesterday's close.  Yields are sliding below it's Technical level and just a bit under 1.30%.

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 9/1/21

 http://MikesDailyMarketReport.com:  ADP was way off from it's estimates (613k) for August, which came in at 374k.  ISM Manufacturing PMI slightly rose from July to August, as it was reported at 59.9.  Anything above 50 is considered expansion/optimism.  Lastly, Construction Spending rose by 0.3% in July.  Stocks are taking it's queue from the ADP report today and all are in Positive Territory, as Bad News is Good News sentiment takes over Investors.  Why?  Because it may allow them to drink the Kool Aid a bit longer, as the Fed continues to monitor the Jobs data.  The most telling data will be released on Friday.  Meanwhile, there were some pretty wild swings this morning with MBS, as it currently sits Down 2bps.  Mortgage Rates will remain Unchanged from yesterday's close (as most Lenders repriced for the worse).  Yields have dropped to just a hair under 1.31%.

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.