http://MikesDailyMarketReport.com: Initial Jobless Claims dropped about 14k from last week's report, to 340k applying for first time benefits. Also, it was released that the Challenger Layoffs dropped by nearly 3 million and Continuing Claims dropped by about 150k. This could set up for an interesting day tomorrow, as Investors await the Non Farm Payroll and Unemployment data from the BLS. Meanwhile, Labor Costs final Q2 revision came in at 1.3%, which may be due to employers enticing employees to return to work; and this will create more inflation concerns ahead. Also, Productivity's final Q2 came in at 2.1%. Lastly, Factory Orders rose 0.4% in July. Stocks are pretty slow today and in Mixed Territory (NASDAQ lone index in Red), as Investors await Jobs data from BLS tomorrow. MBS is currently Up 2bps and had a few bigger swings in both directions earlier this morning; however, Mortgage Rates have remained Unchanged from yesterday's close. Yields are sliding below it's Technical level and just a bit under 1.30%.
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