Monday, April 12, 2021

Daily Market Report 4/12/21 The only items on the Economic Calendar today is the 3- and 10 yr Treasury Auctions.  There wasn't any response from the Market regarding it's results, which was ok.  Stocks are Down this morning after breaking new highs last week.  Fed's Powell was interviewed on 60 Minutes yesterday and reiterated what he's been saying all along that he expects economy to really pick up 2nd half of this year; no rate hike this year; inflation is transitory; and will allow Market to run hot in order to help jobs data.  MBS also improved last week, as it broke above it's 25 DMA.  However, like it's stock counter-part, it's taking a bit of a break today too, as MBS is currently Down 2bps.  Mortgage Rates should remain the same as Friday's close.  Yields are still above it's 25 DMA and sitting just under 1.68%.

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