http://MikesDailyMarketReport.com: Sorry for the delay in my report today. I had issues with my computer and just had it fixed by (nearly) Market Close today. One the economic front, we can start with the Durable Goods Orders, which dropped 1.1% in February; and when you excluded Tranportation, then it dropped 0.9%. This is the first time in 10 months that it declined. However, the IHS Markit PMI reports a better story, as the Manufacuring index rose to 59.0; and the Services sector rose to 60.0. Stocks closed in Negative territory again today, as both Fed's Powell and Treasury's Yellen testified for the second day to Congress. This time with the Senate Committee. Nothing different here. MBS closed Up 5bps today, as the Market showed continued improvement (yesterday, most Lenders repriced their ratesheets for the better). So, today's pricing is Unchanged from yesterday's close. Yields are about to close below an important level, as it's settling into 1.61%. This could help MBS to continue it's improvement (albeit, it might be short-lived).
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