Thursday, November 12, 2020

Daily Market Report 11/12/20 The CPI and Core CPI were flat in the month of October; so, both of their YoY results dropped.  The CPI dropped from 1.4% to 1.2% and Core CPI dropped from 1.7% to 1.6% in October.  Also, we have good news on Jobs; whereas, the Initial Jobless Claims continue to decline, which only 709k people applied for first time benefits last week.  Another important factor to consider is the continuing jobless claims dropped below 7 million for the first time since this whole Pandemic began (6.786 million).  Stocks are in Mixed Territory, as NASDAQ is the lone Index in Positive Territory.  Investors are getting worried about the spikes in the COVID numbers and rhetoric about possible lockdowns again.  Meanwhile, MBS has jumped above it's 100 DMA and is Up 20bps; so, Mortgage Rates have shown some improvement from Tuesday's close.  Yields have come down abit, and sit just under 0.92%.

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