http://MikesDailyMarketReport.com: The ISM Manufacturing PMI dropped from 61.1 in September to 60.8 in October. Anything above 50 is considered expansion. Meanwhile, stocks are still rising, as Investors value the profit making in the Q3 Earnings Reports despite the issues with labor- and supply chain issues, along with inflation. MBS started the day lower, but is now back up toward the 25 DMA and currently Down 8bps. This is not enough to see any Mortgage Rate change. Yields worked similarly, as they rose above the 25 DMA and another Technical level. They're currently at 1.59%.
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