http://MikesDailyMarketReport.com: The Weekly Jobless Claims dropped to 216k, which was lower by 3k from previous week's number. The final Productivity number for Q4 came in at 1.2%, which was less by 0.2% in it's initial reading; whereas, Unit Labor Costs (for Q4) came in at 0.9%, which it's initial reading was 1.4%. Factory Orders dropped by 0.5% in January. Stocks have retreated today, after a large one day rally yesterday, and giving up a large portion of those gains today. This is of course, on the news of the coronavirus, which is still shaking the Markets. MBS is Up 22bps so far this morning, rebounding a bit after it's sell off late in the day. Mortgage Rates will be better than yesterday's close, but may not be quite to the level we saw yesterday morning. This could change, depending on how much stocks continue to drop. Yields have slid down and are near it's floor of support (0.923%), and currently sit at 0.938%.
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