Thursday, December 17, 2020

Daily Market Report 12/17/20  Housing Starts rose in November to 1.547 million annualized units (up from 1.528 million in October).  It's counter-part, Building Permits, rose to 1.639 million annualized units in November (up from 1.544 million in October).  The Philly Fed Index, which measures manufacturing in the Philadelphia region, dropped significantly, from 26.3 in November to 11.1 in December.  Another very disappointing report, was the Initial Jobless Claims, as 885k people applied for first time benefits.  However, Stocks are Up this morning, disregarding the Mixed economic data, on increasing likelihood of a Stimulus Package arriving sooner than later.  MBS were up initially this morning; however, it dropped on talk of more Stimulus.  It's currently in Unchanged level, so Mortgage Rates remain Unchanged; and it still sits below it's 25 DMA.  Yields rose, as well on the talk of more Stimulus; and now sit just under 0.94%.

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