http://MikesDailyMarketReport.com: The CPI report made a HUGE mark on the Markets today with it's April report, which shows it's MoM skyrocketing Up 0.8%, while it's YoY lunged upward from 2.6% to 4.2%. Whe you exclude food and energy, then you have the Core CPI (this report holds more weight due to it being more of the base), which rose 0.9% MoM and it's YoY jumped up from 1.6% to 3.0%. A healthy economy moves at approximately 2.0% inflation. The Fed says it's transitory, but many investors are on edge that it may stick. Time will tell! Right now, it's a very real concern! As a result, Stocks are plunging! A few more Fed Members will be speaking today. MBS had plummeted too, which it's Down 33bps now; so, Mortgage Rates have spiked a bit higher today, as a result. Yields shot Up to 1.68% and was testing it's 1.69% technical ceiling earlier.
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