http://MikesDailyMarketReport.com: The Markit Manufacturing PMI dipped slightly in February, as it went from 59.2 in January to 58.5 in February; also, the Markit Services PMI improved in February, going from 58.3 in January to 58.9 in February. Investors liked the data for both the Manufacturing and Services Sectors and prospects of an improving economy. Existing Home Sales jumped up 0.6% in January, as they moved from (a lower revision in December) 6.65 million annualized units to 6.69 million. However, that December revision was lowered from 6.76 annualized units. Stocks are up on the Markit data posted today, along with the (already priced in) geopolitical aspects of more Government Stimulus, lower weekly average cases and rollout of vaccinations. However, MBS is taking another BIG hit this morning (similar to Monday), as it keeps sliding and Lenders keep re-pricing rates for the worse. It's currently Down 38bps. Yields have been climbing higher and trying to break above another Technical Level. It's sitting just a hair under 1.35% now.
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