Academy Mortgage Corporation’s Post

Transcript

Good morning and happy Monday everyone. We hope you had a great weekend. You know this morning we are digesting comments from Fed Chair Powell that occurred over the weekend. He was on the 60 Minutes television show being interviewed. He did say that the central bank would be cautious about rate cuts moving forward. He did also say that the pace of rate cuts will be slower than most market analysts anticipate. As well. So those comments are really affecting markets this morning. Our markets are trying to figure out you know what that exactly means, but we are seeing both equities and bonds in sell off mode this morning. Like I said with bond yields rising from those comments today, however you know the rest of this week it should be fairly quiet as it pertains to economic data. We did have one economic release. This morning we had the final PMI Services PMI data that was released for January. That came out this morning. It was a bit more positive. The number at least at a 53.4 level. Now the expectation was that we would see something around A52 level, so that was a little better. However, when you read through the commentary, there are concerns that issues around deliveries and the overall economy in general will catch up to us this year. So we'll kind of watch that, see, see how that plays out in addition to that. We do have quite a few Fed officials that we speaking had two this morning. We will have ten others that will be speaking throughout the week, I think 4:00 tomorrow, four on Wednesday and then we have one on Thursday, one on Friday. So watch for those comments. That is really what is directing the markets today and this week. That is our update for today. Again, reach out to us if you have any questions. We're here for you. Thanks.