htp://MikesDailyMarketReport.com: Confidence with Small Business picked up in November, as the NFIB Small Business ticked up from 102.4 to 104.7. The final Productivity for Q3 improved from it's initial report from -0.3% to -0.2%; and the final revision for Unit Labor Costs improved from rising 3.6% as it' initial number down to it's final of 2.5%. Stocks are mostly Up, as the DOW has been dipping it's toe in both sides of the line this morning. News came out that Congress and the White House has agreed on a new USMCA, which is expected to be signed later in Mexico City. Investors are watching for any news on US and China, as the deadline for the Dec. 15th Tariffs on $156 billion Chinese goods will be implemented. It's appearing that the White House will delay these tariffs in order to progress on the Phase One Agreement with China. The FOMC begins their 2 day meeting today, as they will provide their announcement tomorrow. There are no expectations for any rate movement at this meeting. MBS is currently down 9bps, and coupled with yesterdays lows, has Mortgage Rates worsening a bit today. Yields have climbed up to 1.84%.
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