Monday, November 23, 2020

Daily Market Report 11/23/20 Today, we received reports from the IHS Markit PMI, which they show Manufacturing rising from 53.4 in October to 56.7 in November; and Services rose from 56.9 in October to 57.7 in November.  Overall, a very good report!  Stocks are Mixed this morning on light trading, as this is a short Holiday week.  NASDAQ is the lone index in the Red this morning.  The Headline news mostly covers some optimism for COVID related news on vaccines and Health Officials okaying experimental drugs to help with COVID patients, as numbers rise; and worries about it spreading more during the Holiday season, as families gather.  MBS is Down 14bps this morning, so Mortgage Rates crept up slightly (about an .125% to the rate).  Yields jumped above it's 25 DMA and Technical level this morning, and now sits just under 0.86%.

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