http://MikesDailyMarketReport.com: Today is Fed Day! The Fed wraps up it's 2 day meeting and will provide their decision around 11am PST today, so expect some Market Volatility. All eyes are on the Fed today, as they await their decision. The sentiment is the Fed will set the stage for a July Rate Cut and remove the word "patient" from it's language. Investors will review the wording carefully and the Dot Plot, so they can see if the Fed may be thinking more than 1 Rate Cut this year. Nothing else on the Economic Calendar today. Stocks are currently trading in Mixed Territory, as the DOW is the only Index trading in Positive Territory. President Trump tweeted yesterday that he had a phone conversation with Chinese President Jinping, which they'll have an "extended" meeting together at the G20 Meeting next week. This was well received by Investors with hope of a conclusion to the Trade Negotiations between the 2 countries. MBS is currently down 5bps, so Mortgage Rates remain Unchanged from yesterday's Interest Rates. Yields are clawing their way back above the Floor of Support at 2.09%.
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