http://MikesDailyMarketReport.com: Manufacturing in the Philadelphia region spiked in November, as the Philly Fed Index jumped from 23.8 in October to 39.0 in November. Initial Jobless Claims dropped from last week's 269k, which was revised from 267k, to 268k. Another bright spot on the Economic Calendar is the Leading Economic Indicator, which rose 0.9% in October; this is after it's September's data was revised higher, from 0.2% to 0.7%. Stocks are Mixed today based on the Q3 Earnings Reports that are still being released. Investors are becoming a bit jittery regarding the potential for another uptick in COVID cases, as we approach the winter season and people spend more time indoors. Meanwhile, MBS is showing some continued improvement, as it's currently Up about 5bps. This won't impact Mortgage Rates much, as Mortgage Rates will remain Unchanged; however, there may be some minor improvement with the pricing. Also, Yields are working their way down again, as they approach it's 25 DMA. It's currently sitting just under 1.59%.
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