http://MikesDailyMarketReport.com: There are no economic data to report today; however, we'll receive March Jobs data this week, starting with ADP on Wednesday. Stocks are currently in Mixed Territory after being in Negative Territory early on due to an unexpected selloff by a large Hedge fund manager. They dropped off $30 billion into the Market, which has led other investors to research which sectors and and stocks are affected; needless to say, it was a big disruption. We will expect some choppiness over the next few days, as the 1st Quarter ends; and Fund Manager rebalance their portfolios to meet expected economic recovery and higher Yields. Speaking of higher Yields, they're spiking as we speak. They've pushed up to 1.71% so far. Meanwhile, MBS was looking good until it just didn't and is currently Down 14bps. This has led Lenders to reprice already this morning to worse pricing for Mortgage Rates.
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