http://MikesDailyMarketReport.com: The Initial Jobless Claims rose to 207k people applying for first time benefits last week. The Challenger Layoff (announced layoffs) jumped up from 14.875 million in November to 19.052 in December. Lastly, the Continued Claims rose from 1.718 million in last week's report to 1.754 million in this week's report. Tomorrow will be Jobs data from the Bureau of Labor Statistics (BLS), which can have a big impact with the Markets tomorrow. There are a few more data to report, which includes Factory Orders increasing to 1.6% MoM in November; and the ISM Non-Manufacturing PMI dropping from 69.1 in November to 62.0 in December. MBS is still falling today, as it's been all week!!! It had appeared that we were at our caps and seemed to show some weakness; however, it found renewed energy to break those caps and it's downward trajectory. We're currently at the lowest levels for MBS in nearly 2 years since just before the beginning of the pandemic. We're currently Down about 17bps, as Mortgage Rates continue to deteriorate! Treasuries are now Up to 1.73%. They've exceeded their October and November caps; and appear to be on the way to making new caps (further eroding Mortgage Rates). Right now, it doesn't appear to show any momentum shift or end.
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.