http://MikesDailyMarketReport.com: The inflation on the Wholesale side of the economy (also, as we had CPI yesterday) pull back in October, as the Core PPI rose only 0.1% in October, and it's YoY dropped from 1.2% to 1.1%. The headline PPI, however, rose 0.2% for MoM in October. Consumer Sentiment dropped in it's mid-readings in November from 81.8 in October's final reading to 77.0 so far in November. Much of this has to do with renewed concerns over rising cases of coronavirus and talk of more lockdowns. Stocks are Up this morning on primarily due to good reports from Disney, Cisco and 3M. Investors are watching with optimism for future growth with talk of vaccines, etc.., but also, realizing the present, with rising cases and talk of more lockdowns. MBS is currently Unchanged from yesterday's close; however, MBS did continue it's rally yesterday (closing +38 bps). Many Lenders repriced yesterday with better Mortgage Rates. So, Mortgage Rates should be priced around yesterday's close and better than yesterday's opening. Yields are bouncing off it's Technical level of Support and now up to 0.89%.
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