Daily Market Report 9/16/21

By
Mortgage and Lending with Evolve Bank & Trust NMLS #275652

http://MikesDailyMarketReport.com:  Retail Sales surprised the Markets by posting an increase of 0.7% in August, as economists were projecting a drop.  When you exclude Autos, then it jumped up 1.8%.  The Philly Fed Index jumped up from 19.4 in August to 30.7 in September.  This index gauges the business activity in the Philadelphia region.  However, the Initial Jobless Claims rose to 332k last week for people applying for first time benefits.  Lastly, Business Inventories rose 0.5% July.  Stocks are Down today, as they brace for tomorrow's volatile day (Quadruple Witching Day) and ahead to next week's FOMC.  Meanwhile, MBS is Down 19bps, as Mortgage Rates worsen a bit today.  Also, Yields ascended to just under 1.33%.

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