Wednesday, December 23, 2020

Daily Market Report 12/23/20 The Core PCE, which is Real Inflation and used by the Fed, remained Unchanged on it's YoY data at 1.4%.  The Initial Jobless Claims revised last week's report from 885k to 892k; however, this weeks report showed it declined to 803k.  Durable Goods Orders revised their October data from 1.3% to 1.8%; however, it only rose 0.9% in October (suggesting a slowdown).  New Home Sales revised their October data from 999k annualized units to 945k; and it's November data shows a significant drop to 841k.  Consumer Sentiment is showing  that Consumers are becoming more concerned, as it dropped from it's November reading of 81.4 to 80.7.  Stocks are Up this morning on reports out of Europe that a deal has been reached between the UK and the EU.  Also, President Trump has strongly worded his displeasure with Congress for allocating a Stimulus Package that send large sums of money to other countries and entities, instead of giving more to the American people.  He has said that he won't sign this bill and requests that they send him a bill that will provide to the American people and businesses, not foreign aid.  This latter part could further factor into trading; however, trading is light due to the large hedgefund managers already on Holiday break.  Meanwhile, MBS is dropping (Down 17bps) and falling below it's 50 DMA now.  Mortgage Rates have worsened compared to yesterday's rates.  Yields are pushing above it's Technical Ceiling, which could push us toward the 1% threshold; which it's currently sitting at just under 0.97%.

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Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then please direct message me.

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