Monday, December 7, 2020

Daily Market Report 12/7/20 There are no economic data to report today, so the Markets are looking at geopolitical events for their Movements today.  Stocks are in Mixed Territory, as NASDAQ is currently the only index in Positive Territory, after many of the indexes setting new highs last Friday.  Cases for COVID are rising, as are hospitalizations; and calls for more Stimulus are being pushed to Congress to act.  Reuters is reporting that the Trump Administration is applying sanctions to a few additional Chinese officials for China's actions with recent Hong Kong events; and Russell index is expecting to drop a few Chinese companies for their role with China's military.  BREXIT is coming back into light today, as we approach their newest deadline (December 31st).  It's appearing more like a Hard Break, as it appears that both sides are not able to bridge some parts of an agreement.  As we get closer to the deadline, this will make bigger waves in the Markets.  MBS are Up 13bps this morning after it's Sell off on Friday.  Mortgage Rates have a slight improvement from Friday's close.  Yields have slid a little bit (down to just under 0.93%).

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