Fundamentals 8/19

There are no economic fundamentals today but we have a market environment which looks as if investors are close to completely losing confidence in the health of the economy which could see a significant sell-off of equities and a move to cash, Treasuries and gold.

This might send mortgages to record low rates as long as MBS track Treasuries. This is not simply about the U.S. economy. It extends to Europe and Japan as well.