http://MikesDailyMarketReport.com: Light day today, in terms of economic data, which Factory Orders is the only report. It was reported that it rose by 1.2% in August. Stocks are Down, mostly due to concerns over the Debt Ceiling Crisis in Washington. A few items to note in the healines news were that Evergrande is talking about selling off pieces to cover their debt payments, which they're currenlty talking about their property management company. Meanwhile, the CEO of BioNTech basically stated that the covid virus would continue to mutate to different forms, which will lead to further vaccinations in the future. Some countries have already accepted that it's here to stay and have fully reopened back to normal (places like Norway and Singapore). MBS closed Up 22bps on Friday, which helped to recapture some of the big losses over the previous week. Today, we're Down about 6bps, but not enough to change Mortgage Rates, as they remain Unchanged from Friday's close. Yields have been testing it's Technical floor and currently just above it at 1.48%.
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