http://MikesDailyMarketReport.com: We don't have any economic data to report today. Today is the last full week prior to Thanksgiving, as many of the large Hedge funds will be out all of next week for vacation, so it could get a little choppy due to the smaller investors. Currently, the Stock Market is Mixed, as the NASDAQ is the lone index in Positive Territory. All week, investors have been deliberating back-and-forth between optimism with the vaccines and the current status of the rising cases. We had a surprise announcement by the Treasury today when Mnuchin requested the balance of the unused funds for the special lending programs created under the first Stimulus, which were set to expire at the end of the year. The Fed prefers to hold onto the funds, as means to help the Markets feel secure; whereas, the Treasury feels that it is it's obligation to return the unused funds to Congress and re-position it, as they see fit (possibly another stimulus). The reaction by the Markets isn't too big on this news, but the Media is playing this out like there's a rift between the 2 agencies. Meanwhile, MBS is Down 5bps this morning; however, MBS had further gains yesterday afternoon; so, this has led to Mortgage Rates remaining the same, or Unchanged from yesterday's pricing. Also, Yields have been pushed under it's double layer of Technical level and 25 DMA, and trying to work it's way back. It's currently sitting just under 0.84%.
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