Market Snapshot February 11, 2020
Good Morning on this Terrific Tuesday,
There is nothing substantial to report today on the economic front. Coronavirus is still the center of media attention as more than 1,000 people have died from it.
Treasuries and mortgages are weaker today and have broken (for now) the upward trend we had been enjoying. It is typical range trading. Yesterday we hit the top, did not close through resistance so we will likely work our way back toward the lower part of the channel before improving again. Stocks are up marginally and will have to show signs of stress for bonds to improve. Wow, I sound like a broken record here. Chairman Powell testifying to Congress today and tomorrow in his semiannual visit. Not much new or newsworthy, just some political grandstanding for what that is worth. Today is New Hampshire’s day in the sun to cast its votes in the Presidential Primary. Next up will be Nevada’s Caucus next week on 2/22.
Make today great!