http://MikesDailyMarketReport.com: Leading Indicators reported improvement of 0.5 for the month of January. Stocks are a bit mixed this morning on the concern of higher Yields. Stock valuations are coming into question, as the higher borrowering costs represents lower profits for Investors. Inflation is also a concern, as the Fed may turn hawkish and raise rates and/or pull back on their Asset Purchases. Meanwhile, MBS is still looking for any type of footing, as it continues it's decline (Down 36bps so far). This has led Lenders to price in worse pricing for Mortgage Rates from last Friday. At some point, we should be reaching a floor, which we can expect some sort of bounce back, but it is uncertain when we will hit that floor. Yields are rising and have hit just under 1.36%.
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