http://MikesDailyMarketReport.com: There are no data to report from economic report. This week will provide us Jobs data from the month of August. Meanwhile, Stocks are in Mixed Territory, as the NASDAQ is the only index in Positive Territory; and the DOW is currently Down 200+ points. The FDA provided some optimism, as we approach the final stages for a few Pharmaceuticals' vaccinations research; which they stated the possibility to safely expedite the process of getting the vaccines out to the public. A few Fed Officials were speaking today; and Richard Clarida reiterated his support for the Fed's announcement last week to it's change of policy of "average" of 2% inflation. He stated that the economy has changed from the past, which would link the unemployment rate and inflation together, known as the "Phillips Curve", had started losing it's power about a decade ago. We found out that even with very low unemployment that inflation didn't skyrocket. China announce some additional restrictions regarding selling of AI technology outside the country, which may create some issues with the sale of TikTok in the US. MBS is currently Up 3bps and sitting just above it's 50 DMA. In turn, Mortgage Rates remain Unchanged from what we saw on Friday. Yields have come down a bit. They're testing it's new floor of support; and are just under 0.71%.
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