http://MikesDailyMarketReport.com: ADP Payroll reported a positive revision to their July data, from 167k to 212k. They reported that August had 428k new jobs, which is well below the forecast of 950k. Factory Orders had a positive revision in June, which they had a MoM improvement from 6.2% to 6.4%; which they maintained that same pace in July, as it jumped up 6.4% again in July. Stocks are trading in Positive Territory this morning. Bloomberg reported that Treasury Secretary Mnuchin and Nancy Pelosi are resuming talks regarding Stimulus Package, which is viewed as a necessity to get the economy back in order. Also, Dr. Fauci stated that vacciness may be here sooner than later. Meanwhile, MBS is Up 3bps. We've seen improvements later in the day in the MBS Market, which yesterday was no exception, as it closed +14bps. When you look at yesterday's improvement and today's continuation, then you will find Lenders providing a little better pricing with their Mortgage Rates. Also, the MBS is above it's 25 DMA and trending upward. Yields, however, have been trending lower, and are now testing it's 100 DMA. It's just slightly higher than 0.65%.
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