http://MikesDailyMarketReport.com: Weekly Jobless Claims came in much hotter than expected at 252k. As I had forecasted last week, this was to be expected because last week's really low number was due to the Thanksgiving Holiday being shortened and we'd see a bit of a spillover into this week's report. Inflation came in very tame for the Wholesale sector, as the Producer Price Index was Unchanged in November, as was it's YoY set at 1.1%. The Core PPI (strips out the volatility from food and energy) contracted by 0.2% in November while it's YoY dropped from 1.6% to 1.3%. Stocks are way Up this morning after a tweet by President Trump indicating that a very big deal is about to be finished with China soon. Both the Fed and ECB were nonevents; and the Fed expects to keep the rates at same levels thru 2020 and economy is still looking good. However, MBS started to tank on the Tweet, as money is flowing from Bonds to Equities, and is currently down about 30bps. We're currently down around the levels on Tuesday, in terms of pricing for Mortage Rates. Yields are skyrocketing and are currently up to 1.89%.
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