http://MikesDailyMarketReport.com: ADP reported 571k new hires for Private Payrolls for the month of October. This is the first of the October Jobs data this week. Factory Orders grew by 0.2% in September (topping unchanged forecasts). The ISM Non-Manufacturing PMI jumped up from 61.9 to 66.7 in October. Anything above 50 for this index is expansion. Other Services (globally, like the Caixin in China) were also showing very robust numbers for the Services industry for the month of October. Later today is the wrap on the FOMC, which Fed Chair Powell will give his announcement. It is highly anticipated that he will address the tapering plan; and investors are now also wanting conversations about rate hikes. We'll look to see if he addresses the latter. MBS started the morning higher, but that was short-lived, as it is currently Down 14bps and testing it's 25 DMA floor. Mortgage Rates are a little higher today (about an .125% to rate). Yields are also under pressure, as they test their 25 DMA ceiling and sitting just under 1.57%.
Please subscribe to my YouTube Channel at MikesDailyMarketRpt
Also, these videos are base on my views and not represented by any other entity, but my own. I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then please direct message me.