Thursday, December 5, 2019

Daily Market Report 12/5/19 The Weekly Jobless Claims came in at 203k (a 7 month low) for last week. Of course, last week was a holiday shortened week for Thanksgiving, so take it with a grain of salt. Factory Orders rose by 0.3% in October (exceeding the 0.2% forecasts). Stocks started the morning in Positive Territory, but shortly after, they turned Negative. There were more positive comments about the US/China Trade Deal, as the Chinese Ministry commented that their representatives are closely working with the US; and President Trump reiterated the optimism during his visit with Chancellor Merkel yesterday. But Investors are tiring of the back-and-forth rhetoric and may be taking a "let's see" approach. Meanwhile, MBS is currently down 11bps, so Mortgage Rates have slightly worsened. However, they may rebound a bit tomorrow, if the Jobs data don't meet the forecast of 180k, which is a bit of a stretch. Of course, if an Agreement has been reached between the US/China, then all bets are off. Yields have risen to 1.80% now. Please subscribe to my Blog and YouTube Channel at MikesDailyMarketRpt

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