http://MikesDailyMarketReport.com: Productivity slipped by 0.3% in Q3, as forecast called for an increase of 0.6%. Unit Labor Costs rose 3.6% in Q3, which was much higher than expectations of 2.5%. Stocks are in the Red this morning after reaching new highs again yesterday. They seem to be searching for a new catalyst, as Q3 Corporate Earnings winds down. This may be a prelude to a correction, which may benefit MBS. Speaking of MBS, it's currently Up 16bps. This will put pricing to about where we started yesterday morning, as it worsened yesterday by closing down 37bps. Yields are down a little bit to 1.84%. There will be 10 year Note Auction later today which could influence the Markets, as Investors will decide if they have an appetite for Treasuries.
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