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Daily Market Report 11/7/19
http://MikesDailyMarketReport.com: The Weekly Jobless Claims came in lower this last week (from the previous of 219k) to 211k. Stocks are taking off a bit this morning on news out of China that the US and them have agreed to cancel tariffs in phases. There has not yet been any response from the US yet, but investors are running with it. As the money flows from MBS/Bonds to Equities, then MBS has really taken a nosedive this morning, and is down about 53bps. It's dropped below it's 100 DMA and approaching it's next level of support (Fibonacci level at 100.734). Yields have skyrocketed. They've broken above it's Fibonacci and sit at 1.93%.
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