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The following factors affected bond and mortgage yields today:
- The House to seek spending bill with new Obamacare provision. But as of now it looks like a shutdown will happen tonight at 12:00am ET.
- Senate approves government funding bill – the bill now goes to the House.
- U.S. Senate Democrats oppose a possible one-week emergency spending bill idea being floated.
- Apple voted this year’s Best Global Brand, ending Coca Cola’s 13 year reign as No. 1.
- Mortgage Bonds now at session lows. Stocks underwater.
- German engineering giant Siemens, will cut up to 15,000 jobs worldwide of its 370,000 global employees.
- The 4% coupon trades in a tight range.
- Chicago PMI comes in better than expectations at 55.7 vs. the 53.7 expected.
- Oil at $101.51/barrel down $1.36. Prices at the pump continue to drop as the national average for a regular gallon of gasoline is $3.39, down from $3.47 a week ago.
- The only economic data point today is the Chicago PMI but that will take a backseat to the news out of Washington today.
- Bonds trading higher as a threat of government shutdown at midnight tonight looms. Stock futures plunging.