http://MikesDailyMarketReport.com: This week should be another rather quiet and short week (Markets will be closed on Friday for New Year's). There are no economic data to be reported today, but there will be some data being reported for the rest of the week. Due to illiquidity in the Markets, as the large hedgefunds, are on holiday, there may be spikes due to day traders. This is typical during the Holidays. Once the Holidays are finished, then Investors will be watching the COVID numbers and any reaction from the Government (possible lockdowns); so, stay tuned! Meanwhile, Stocks are Up today; as well, as MBS is Up 8bps. MBS started the day lower, which earlier Lenders may have priced in with worse pricing on their Ratesheets. As the Market improved, they tend to improve their ratesheets. Mortgage Rates are on par for Unchanged levels, as Friday's close. Yields are working their way a bit lower, as they are currently just under 1.48%; and sitting between a very tight range between the 25 DMA and Technical floor.
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