http://MikesDailyMarketReport.com: The ISM Manufacturing PMI rose to 60.7 in December (beating forecasts). Stocks are Up this morning, as Investors watch the Georgia runoff today; and determine which Political Party will control the Senate. This is having the most impact with the Markets today. The NYSE delisted 3 Chinese Telecoms today, which may have implications with US relations with China. A few Fed Members made comments that had some impact with the Bond Markets, such as Fed's Bostic mentioning that if the vaccines and pickup in economy happens, then the Fed may "recalibrate" it's Asset Purchases. This comment led to a bit of a selloff in the Bond Market. However, Fed's Meester mentioned that the Fed could continue it's current purchase thru 2021. MBS is currently Down 16bps, which has led Lenders to price Mortgage Rates a little worse today (compared to yesterday). The Georgia runoff will have a major impact with MBS Markets too! If Democrats win and take Majority, then it is expected they will spend (thus more debt) and Mortgage Rates will worsen. Yields have risen to 0.95% and on it's way to testing it's Technical ceiling.
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