Good Morning.

Stocks are hanging tough today on news that the UK is rolling out its first vaccines to the public. Boy, if the vaccine is effective with no dangerous side effects or outcomes, it would be fantastic and would give the world a timeline to a true new normal. The potential challenge with that could be how stimulus, economic policy, monetary policy and business if all impacted by a specific timeline. Rates are not likely to stay low (or as low) in that equation. Despite equities improving, treasuries are also showing strength this morning. The 10-yr is clawing back to .92% and Mortgage bonds are flat on the day. We will take flat.  Keep in mind that there is more downside risk than upside potential. I would favor locking.

The WSJ shared two interesting stats:

70% — The approximate percentage of Americans over the age of 20 who are overweight or obese, according to the Centers for Disease Control and Prevention. The federal government is overhauling its dietary guidelines for Americans, but most people in the U.S. already don’t eat enough of the foods that are currently recommended. Yikes, I typically hate being in the majority, especially now.

$10,000 — The amount Joe Biden has pledged to wipe off the loan balances of the 43 million Americans who owe student debt to the federal government. Many economists say that canceling at least some student debt could help boost the economy, but fulfilling this campaign promise would likely meet opposition from Republicans without also including changes to federal lending practices.

Please remain safe and healthy, make today great.