http://MikesDailyMarketReport.com: The Weekly Jobless Report continues to show strong labor market, as only 214k people applied for benefits last week. Stocks are Up this morning, as tensions in the Middle East seem to calm down; and China announced they'll be in Washington DC to sign the Phase One Agreement. MBS took a hit yesterday afternoon, as Lenders re-priced for the worst. It broke below it's floor of support (fibonacci) and today it fell further and tested the next floor at 100 DMA. Currently, it's down 3bps (off from lows). Pricing is worse than yesterday morning's pricing, but similar to yesterday's close. Yields have climbed again, up to the 1.87% to 1.88% range.
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