http://MikesDailyMarketReport.com: Inflation spiked in the Wholesale sector, as the Producer Price Index (PPI) rose 0.5% in February. The Core PPI (which removes food and energy) rose 0.2% in February; however, it's YoY dramatically rose from 2.0% in January to 2.5% in February. We'll continue to watch this, as the Fed has warned of temporary inflationary spikes due to bottlenecks in the supply chain. This could be part of that! Meanwhile, Consumer Sentiment jumped up from 76.8 in February to 83.0 in March. Stocks are Mixed as the DOW is the lone index in Positive Territory. Investors continue to readjust their positions, as the Stimulus Package was just signed yesterday; and Yields spike again today (up to 1.62% currently). The spike in Yields has led to a dramatic fall for MBS, as they're currently Down 33bps, which has led Lenders to price Mortgage Rates higher today (compared to yesterday's close).
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