Daily Market Report 9/9/19

Mortgage and Lending with CMG Financial NMLS #275652/1820

http://MikesDailyMarketReport.com: Quiet day on the Economic Calendar, and for the most part on the News day too. Investors will be looking ahead to the ECB announcment later this week, and the FOMC next week, as the Fed Officials go into a Quiet Period before the FOMC. It is expected that the ECB will cut rates again, further into Negative Territory, and possibly re-starting the Bond Purchase Program. The Fed is expected to cut a .25% rate next week. We have inflation news this week, via the CPI, so it could have an impact on how the Markets responds to any Fed decision. Currently, Stocks are in Positive Territory. Meanwhile, MBS is Down 16bps and trying to stay above it's next floor of support, which happens to be the 25 DMA. Yields have skyrocketed further above a double layer ceiling and sitting around 1.62%. We'll see if this continues, or if it gets pulled back under.

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