http://MikesDailyMarketReport.com: Initial Jobless Claims continue to rise, as they report 362k people applied for first time benefits last week. The final Q2 GDP rose to 6.7% from it's initial 6.6% report. Of course, this was propped up because of Government Stimulus and reopening of economy. Lastly, Business Activity in the Chicago, as reported by Chicago PMI, dropped to 64.7 in September. Anything above 50 is considered expansion, so the data is still relatively good. Stocks are Down for the last day of the month/quarter, as Congress continues to work out a deal to extend/raise the Debt Ceiling. MBS started lower, but has begun to rise a bit, which may lead to improved pricing. It's currently Up 6bps, so Mortgage Rates should be comparable to yesterday's close. Compared to Yields, MBS appears to be outperforming it, as Yields are currently around 1.52%.
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