http://MikesDailyMarketReport.com: Weekly Jobless Claims were a little higher this week than expectations with 227k applying for first time benefits. The Philly Fed Index rose from 5.6 to 10.4 in November. This index measures the manufacturing in the Philadelphia region. Existing Home Sales improved from 5.36 million annualized units to to 5.46 million. Also, Leading Indicators show the economy to gradually slow down, which it contracted by 0.1% in October. Stocks are in Negative Territory as pessimism lingers for a China/US Trade Agreement. We have mixed reports today, which China's Vice Premier invited US delegates over for face-to-face meetings and painted an optimistic tone to negotiations. However, Reuters reported that any agreement wouldn't carry over until 2020, and Congress passed a Human Rights for Hong Kong Bill, which is set for the President to sign. This latter part, may create more tensions with China, as they will view this measure as US interference into their Domestic Policy. MBS is Down about 2bps and just lingering under it's Fibonacci Level. Yields started the morning lower and rose above it's 100 DMA and was stopped by it's next ceiling at the Fibonacci Level. It's sitting at 1.76%.
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