http://MikesDailyMarketReport.com: The Manufacturing in the Philadelphia region dipped a bit in November, as the Philly Fed Index shows it went from 32.3 in October to 26.3 in November. This is still a relatively high number, but we'll watch this trend. However, the Initial Jobless Claims jumped up to 742k last week, after we were seeing approximately 4 weeks in a row with declining data. On a positive note, Existing Home Sales jumped up from 6.54 million annualized units in September to 6.85 million in October. Also, the Leading Economic Indicator continued it's trend of rising 0.7% in October. Stocks are in Mixed Territory this morning, as the NASDAQ remains the lone index in Positive Territory. The rise in COVID cases and announcements of further lockdowns, including the NYUSD announcing students will return to online learning yesterday. This will further cripple the economy, especially without any stimulus coming any time soon! MBS has regained it's losses this morning, as Mortgage Rates improved. We should be priced the same as we saw at the close of Tuesday's pricing. MBS is currently Up 9bps. Yields continue to be held below it's Technical level and sit just below 0.86%
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