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Mark Hemingway

Mortgage Market Update for September 8th

Thursday, September 10, 2020 - Article by: Mark Hemingway - Security Financial Services, LLC - Message

As the country continues to reopen and with just a few states on some sort of partial lock down, small businesses are trying to get back to some normalcy. The NFIB Small Business Optimism Index increased 1.4 points in August to 100.2, slightly above the historical 46-year average ... a very good sign for business owners as well as workers. NFIB Chief Economist Bill Dunkelberg said, "We are seeing areas of improvement in the small business economy, as job openings and plans to hire are increasing, but many small businesses are still struggling and are uncertain about what the future will hold."

The U.S. financial markets kick off the week with the unofficial end of summer now that Labor Day is in the rear-view mirror. The bond markets are higher but will have to digest a whopping $108 billion in Treasury securities this week beginning with today's $50 billion 3-year Note auction. The U.S. stock markets are lower as investors look to book some profits after the massive gains seen since March. The economic calendar is light this week but there is a key report on consumer prices with the inflation reading Consumer Price Index on Friday.

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