|10 year government bond yield||0.91%|
|30 year fixed rate mortgage||2.78%|
Stocks are lower this morning on news of a second strain of COVID in the UK. Bonds and MBS are up.
Congress came to an agreement on a $900 billion stimulus package, which will send $600 checks to people, and an extra $300 per week in unemployment benefits. Here is a chart to show where the money is going
There is no aid to state and local governments, which the Democrats desperately want. Chuck Schumer is already saying that there will be another stimulus bill when Biden takes office. Much will depend on the special election in Georgia which will determine which party controls the Senate.
The week ahead should be quiet as we head into the holidays. Markets will close early on Thursday and be closed all day on Friday. We will get a bit of housing data with existing home sales, new home sales, and the FHFA House Price Index.
United Wholesale, which is going public via a SPAC, pushed its IPO to January.