http://MikesDailyMarketReport.com: There are no economic data to report today. The Markets are taking their direction from the Fed's decision NOT to extend the SLR addendum that allows Banks to remove Treasuries and Bonds from their reserve requirements in contract to their lending. Stocks are in Mixed Territory, as DOW is the lone index in Red. Financial Institutions are down on this news. Bond Traders must have read the writing on the wall yesterday, as there was a Big Selloff, which it closed down 42bps; however, this morning, it's Down 14bps. This has led Lenders to price Mortgage Rates a bit higher again! Yields are now sitting around 1.72%.
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