http://MikesDailyMarketReport.com: The Market is about to close early today for Christmas, as it will be closed tomorrow. The Economic Calendar does have a lot of data being released today, so we'll start with Personal Income rising 0.4% in November, while Consumer Spending rose 0.6%. The PCE rose 0.6% in November, while it's YoY jumped from 5.0% in October to 5.7% in November. The Core PCE, which excludes food & energy (and Fed's favorite gauge for inflation), rose 0.5% in November; while it's YoY jumped up from 4.1% in October to 4.7% in November. Durable Goods rose 2.5% in November; but if you exclude Transportation, then it rose only 0.8%. Initial Jobless Claims for last week was 205k. New Home Sales came in at 744k seasonally adjusted units in November. Lastly, Consumer Confidence rose by 0.2 in December to 70.6 for it's index. MBS appears to be closing today Down 9bps; however, it was lower earlier on when Lenders came out with their ratesheets. So, most Lenders probably priced their Mortgage Rates a little higher today. Meanwhile, Yields have climbed just above it's Technical level and 25 DMA to 1.49%.
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