Daily Market Report 7/12/21

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Mortgage and Lending with Evolve Bank & Trust NMLS #275652

http://MikesDailyMarketReport.com:  Nothing really on the Economic Calendar; however, there are some Treasury Auctions this morning (3yr and 10yr).  The 3yr didn't go as well as hoped and did negatively affect the Markets (usually it doesn't impact); and the 10yr came in rather decent, which wiped out the negative movement caused by the 3yr.  Stocks are Mixed today, as NASDAQ is the lone index in the Red.  Investors are primarily looking ahead for this week's data.  This week, we have the beginning of Q2 Corporate Earnings Reports, Fed Chair Powell's semi-annual Testimony and a new look at Inflation data (CPI and PPI).  The G20 is going on with Finance Ministers meeting to discuss a Global Tax.  The Global Tax is for Multi-National Corporations whom position themselves to avoid paying too much in taxes.  The Finance Ministers are trying to place a Minimum Corporate Tax globally to make it more difficult.  This isn't affecting the Markets, but something to watch for down the road.  MBS is currently Up 6bps, which will leave Mortgage Rates Unchanged from Friday's close.  Yields are currently settling into the 1.36% range.

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