http://MikesDailyMarketReport.com:  Nothing on the Economic Calendar today, but the Fed Beige Book was released earlier today, which stated the following:*economy is growing at modest to moderate pace*low supply of workers across the country*it's being reported there is significantly elevated prices around the USSo, Inflation, lack of supplies and lack of workers are suppressing the economy from reaching it's full potential.  Many Investors are speaking out on the inflation not being transitory and being more permanent, especially as energy prices quickly escalate and get absorbed into consumers' costs.  Stocks are in Mixed Territory, as NASDAQ remains lone index in the Red.  They're being heavily influenced with the higher yields, as they continue to try and head north.  They're curren... 10/20/2021

http://MikesDailyMarketReport.com:  Housing Starts dropped 1.6% in September, as they reported only 1.555 million seasonally adjusted units were started.  If you look within the numbers, then most of the numbers were due to a drop with multifamily units (whereas, single family homes were within expectations).  Also, Building Permits dropped 7.7% in September, bringing it down to 1.589 million seasonally adjusted units.  Yesterday, we had an increase with Home Builder Confidence, but they did state that supply chain and labor shortages are creating delays with their plans.  Meanwhile, Stocks are Up on better than expected Q3 Earnings Reports.  Markets will be watching a few different Fed Speakers, so there may be some movement based on what they say.  MBS started the day off higher, then... 10/19/2021

http://MikesDailyMarketReport.com:  Industrial Production continued to drop in September, as it was reported a 1.3% drop; meanwhile, it's August report was revised from an increase of 0.4% to a drop of 0.1%.  Investors received a pleasant surprise, as the NHIB Home Builders Index rose 4 points to 80.  This index measures the confidence level for Home Builders.  Meanwhile, stocks are trading in Mixed territory, as they continue to review Q3 Earnings Reports and other data.  China reported a significant drop in their Q3 economic data, as it dropped from 7.9% to 4.9%.  This had early trading in negative territory, but had subsided since then.  Meanwhile, inflation is still a concern, as energy prices continue to rise (price of a barrel of oil is now over $81).  MBS was Down much more earli... 10/18/2021

http://MikesDailyMarketReport.com:  Retail Sales came in strong for September for the 2nd consecutive month, as it reported a 0.7% increase (higher than the -0.2% forecasts); and even when you exclude Autos, it was strong (0.8%)!  Stocks are really liking this release, along with continued positive Q3 Earnings Reports being released.  The Empire State Index indicated that manufacturing slowed a bit in October, as it dropped from 34.3 in September to 19.8 for October.  Also, the Consumer Sentiment dropped a little bit in October, as it went from 72.8 to 71.4.  MBS is Down 13bps this morning on the positive economic data being published today and being pressured further with rising Yields, which has spiked back above the 2 technical levels that it slipped thru during this week.  Yields ar... 10/15/2021

http://MikesDailyMarketReport.com:  The Initial Jobless Claims came in at 293k last week, as this is the first time since Pandemic that we saw this data in the 200k+ range.  This is helping the Markets.  Lastly, the Producer Price Index (PPI) rose 0.5% in September, while it's Core PPI (excluding food and energy) rose only 0.2% (which brings it's YoY from 6.7% in August to 6.8% in September).  The PPI measures inflation for the Wholesale sector and doesn't always carry too much weight, like CPI or PCE.  Stocks are Up today on the Initial Jobless Claims data and good earnings reports from Banks, as we begin the release of Q3 Earnings Reports.  Meanwhile, MBS is Up 11bps (coupled with yesterday's close of 23bps) has Lenders out with better Mortgage Rates today (compared to yesterday morni... 10/14/2021

http://MikesDailyMarketReport.com:  The CPI rose 0.4% in September, while it's YoY rose to 5.4% (from 5.3% in August).  However, if you exclude food and energy, then you will see the Core CPI rose only 0.2% in September, while it's YoY remained unchanged at 4.0%.  Obviously, we see it at the gas pumps and grocery stores that these prices are continuing to rise substantially.  Stocks are trading in Positive Territory today as the Core CPI came in a bit tame and investors look to the FOMC Minutes being released.  MBS had a rollover, so the Chart may look misaligned, but it's essentially a reset in pricing and Mortgage Rates are unaffected.  Currently, MBS is Up 13bps, which is also being propped up a bit after a good 30 year Auction.  Yesterday, the Market finished Up 11bps; so, we're see... 10/13/2021

http://MikesDailyMarketReport.com:  No Economic Data to report today.  We have some Treasury auctions, which the 10yr performed well, as I was providing the video presentation; so, we may see some improvement soon.  This week holds inflation data, which the CPI is released tomorrow and the PPI is released on Thursday.  Investors are watching inflation and any news on improvement in the supply chain and jobs data, as the IMF recently downgraded their forecasts for these very issues; and as a result, stocks are Down today.  Meanwhile, before the 10 year Treasury Auction, MBS was down 8bps and Unchanged levels; but this wasn't enough for any change in Mortgage Rates.  Yields had dipped below 1.60% to 1.58%.  We're hoping to see it break below the 1.56% technical floor, so there's less pres... 10/12/2021

http://MikesDailyMarketReport.com:  Today is the big jobs data from the Bureau of Labor Statistics (BLS).  The average earnings rose 0.6% in September, which average work week rose to 34.8 hrs/week.  However, the Non-Farm Payrolls disappointed again, as only 194k.  There was an expectation of approximately 500k.  But, the August numbers were revised higher, from 235k to 366k; but this is still a far miss from it's expection of around 700k-900k.  On the flip side, we saw a drop in the Unemployment Rate  from 5.2% to 4.8%.  I think October will be interesting, as companies begin to layoff non-vaccinated employees, whom won't be on the Unemployment data.  Lastly, wholesale inventories continued their 1.2% trend for the 2nd month in a row for August.  Investors are Uncertain about the Fed's... 10/08/2021

http://MikesDailyMarketReport.com:  Initial Jobless Claims dropped down to 326k this past week, as fewer people apply for first time unemployment numbers.  As indicated, it will be interesting to view these numbers in the near future, as many folks are holding the line against vaccinations and being fired.  These folks won't be factored into the unemployment data, as they won't qualify to receive benefits.  However, if you look at the Challenger layoffs for Sept, then you see a spike from 15.723 million to 17.895 million; so, nearly 2 million planned layoffs.  Stocks like the lower Jobless Claims, but are liking the temporary solution for the Debt Ceiling Crisis; which Democrats and Republicans agreed to extend the deadline to December while raising it approximately $480 billion.  Meanw... 10/07/2021

http://MikesDailyMarketReport.com:  The first of the September Job Data was reported this morning, as the ADP announced a better than expected 568k jobs in the private payrolls were created in September.  This has investors on Wall Street thinking more about the upcoming Taper talk, which Stocks are in Negative Territory today.  It will be interesting to see how they view those people whom lost their jobs because they don't want the vaccinne and won't show up on the unemployment numbers.  Most likely will be more noticeable on the Labor Participation and U6 number.  Investors are also watching energy prices continue to rise; and Europe and Asia facing a bit of a crunch.  Meanwhile, MBS has decided to drop a bit more today, as we're currently Down 6bps (after closing -30bps yesterday).  ... 10/06/2021

http://MikesDailyMarketReport.com:  Today, we received data in the services sector by ISM Non-Manufacturing PMI for the month of September, which rose from 61.7 in August, to 61.9 for September.  Anything above 50 is considered expansion.  This is helping stocks gain more footing in today's trading.  Starting tomorrow, we'll start seeing jobs data for the month of September, which will be our catalyst for the week, so stay tuned!  After yesterday's big selloff with equities, Investors are back to buying (as they say in the street, "you buy on the dip").  Meanwhile, MBS Market has become a bit illiquid, so it's taking a bit of a beating today.  It's currently Down about 20bps, which has led Lenders to price in worse pricing on their ratesheets and Mortgage Rates have risen today.  Also, ... 10/05/2021

http://MikesDailyMarketReport.com:  Light day today, in terms of economic data, which Factory Orders is the only report.  It was reported that it rose by 1.2% in August.  Stocks are Down, mostly due to concerns over the Debt Ceiling Crisis in Washington.  A few items to note in the healines news were that Evergrande is talking about selling off pieces to cover their debt payments, which they're currenlty talking about their property management company.  Meanwhile, the CEO of BioNTech basically stated that the covid virus would continue to mutate to different forms, which will lead to further vaccinations in the future.  Some countries have already accepted that it's here to stay and have fully reopened back to normal (places like Norway and Singapore).  MBS closed Up 22bps on Friday, wh... 10/04/2021

http://MikesDailyMarketReport.com:  There's a lot of data on the Economic Calendar today, which we'll start off with the Personal Income for August, which rose 0.2%; and the Consumer Spending rose 0.8 in August.  The biggie for this week is the PCE, which is the Consumer inflation data that is most heavily weighted by the Fed.  The consider it's Core PCE as "real inflation".  The PCE rose 0.4% in August, as it's YoY rose from 4.2% in July to 4.3%.  The Core PCE (excluding food and energy) rose 0.3 in August, which it's YoY remained Unchanged at 3.6%.  Manufacturing seems to be in good shape, as the ISM Manufacturing PMI rose to 61.1 in September.  Lastly, Consumer Sentiment rose to 72.8 in September.  Overall, decent numbers!  Stocks are Up this morning; and MBS is Up 14bps too.  Anothe... 10/01/2021

http://MikesDailyMarketReport.com:  Initial Jobless Claims continue to rise, as they report 362k people applied for first time benefits last week.  The final Q2 GDP rose to 6.7% from it's initial 6.6% report.  Of course, this was propped up because of Government Stimulus and reopening of economy.  Lastly, Business Activity in the Chicago, as reported by Chicago PMI, dropped to 64.7 in September.  Anything above 50 is considered expansion, so the data is still relatively good.  Stocks are Down for the last day of the month/quarter, as Congress continues to work out a deal to extend/raise the Debt Ceiling.  MBS started lower, but has begun to rise a bit, which may lead to improved pricing.  It's currently Up 6bps, so Mortgage Rates should be comparable to yesterday's close.  Compared to Y... 09/30/2021

http://MikesDailyMarketReport.com:  Pending Home Sales spiked 8.1% in August, easily beating forecasts of 1.4%.  Stocks are in Mixed Territory, as many stocks (especially Growth Stocks) are being affected by the recent spike in Yields.  MBS started the day in good position (approximately Up 13bps and rose another 11bps).  Lenders priced in better pricing for Mortgage Rates (compared to yesterday's close); however, it has since scaled back and is has teetered between -2bps and +5bps.  Some jumpy Lenders may reprice for the worse (making pricing Unchanged from yesterday's close).  Meanwhile, Yields were following in similar pattern, as they were down to 1.50%, but have risen back up to 1.54%.  Investors were propping up the better pricing early on this morning, as they were buying the Dip... 09/29/2021

http://MikesDailyMarketReport.com:  We have 2 Home Price Indices (HPI) reporting today, which I believe I may have erred on the name of one of the indices.  I may have referred to it as NAHB, which I'd like to correct it to FHFA.  It does report the properties that have Fannie and Freddie loans.  So, to report the 2 indices, we'll start with the Case Shiller HPI for July, which rose 1.5% and it's YoY rose to 19.9%.  The FHFA rose 1.4%, while it's YoY rose to 19.2%.  Consumer Confidence dropped to 109.3 in September over concerns of the Delta variant and inflation.  Later today, we'll see the 7 year Treasury Auction.  It could have some impact with the Market.  Stocks are taking a bit of a beating today too, as Yields rise and Bonds drop, it's affecting Growth Stocks negatively.  MBS is ... 09/28/2021

http://MikesDailyMarketReport.com:  The Durable Goods Orders rose 1.8% in August; but if you exclude Transportation,  then it only rose 0.2%.  There will be Treasury and Bond Auctions this week, which can impact Mortgage Rates, so we'll keep an eye on demand.  Stocks are in Mixed Territory, as Yields jumped up to nearly 1.52% earlier on, but has pulled back down to just under 1.48%.  There are a few Fed Speakers out this week, which Chicago Fed Evans had an interesting take, which he thought that he was more concerned in not having enough inflation than it running too hot.  Also, Boston Fed Rosengren announced he'll retire at the end of the month ( this week).  There is a bit of a Global Energy Crisis, which China has been experiencing power shortages, which has led to factory closures;... 09/27/2021

http://MikesDailyMarketReport.com:  New Homes Sales rose 1.5% in August, as it went from 729k annualized unit in July to 740k in August.  Stocks are Down today, as Investors await Evergrande's debt payment due yesterday.  They do get a 30 grace period, so if it comes down to wire, then watch investors get a bit antsy!  Yesterday was a brutal day for MBS and Treasuries, as the momentum from the Fed's announcement pushed them further into negative territory.  MBS closed Down 53bps yesterday, which Lenders had several price changes for the worse.  They started down again this morning, even reaching -17bps, but have shifted directions, and are currently Up 6bps.  This means that the Lenders whom priced earlier had priced worse today, but will most likely re-price for the better.  The others... 09/24/2021

http://MikesDailyMarketReport.com:  The Initial Jobless Claims rose to 351k this past week; and the Continued Claims spiked a bit, as more people remained on Unemployment.  The IHS Markit PMI released their Services and Manufacturing data for September.  Anything above 50 is expansion or optimism in the Market for these indices.  The Services dropped from 55.1 in August to 54.4 in September; while, Manufacturing dropped from 61.1 to 60.5.  On the flip side, Leading Economic Indicators jumped up 0.9% in August.  Stocks are Up again today, after the completion of the 2 day FOMC, which Investors received more clarity on the Fed's thoughts for the future.  The Fed stated, pending progress in jobs and economy, that tapering is still on the table for this year; however, it's also appearing th... 09/23/2021

http://MikesDailyMarketReport.com:  The Existing Home Sales dropped 2.0% in August, as July's data was revised slightly higher (from 5.99 million annualized units to 6.00 million).  It was reported at 5.88 million in August.  The Fed will be wrapping up it's 2 day meeting (FOMC) today, which they'll provide their announcement at 11:30 am PST.  Expect some choppiness!  Investors will await word on timeframe of the Fed tapering plans (this year or next), review Dot Plot (for interest rate hike forecasts by Fed members) and any policy statement changes.  It seems that most forecasters believe the Fed will hold on taper for the moment, and most likely announce at November's meeting.  Stocks are rebounding after another day of selloff; and ahead of Fed decision.  Investors received some good... 09/22/2021