http://MikesDailyMarketReport.com: The Wholesale Inventories rose by 0.8% in April. This is a minor report, and won't have much impact with the Markets. However, tomorrow's CPI report can have a major impact with the Markets, so be cautious! Stocks are in Mixed Territory, as DOW is lone index in the Red. It was reported that China's PPI, which measures inflation on the Wholesale side, rose by 9.0% last month (highest since 2008). This will obviously translate to higher costs here, as we obtain quite a bit of commodities from China. MBS is currently Up 13bps and testing it's 100 DMA. This will lead Lenders to provide better pricing today for Mortgage Rates. Yields have slipped down to 1.50% as it (earlier) tested it's 100 DMA and Technical floor. There is a 10 Year Note Auction today, which could affect the Markets, depending upon the Auction results, so be aware!
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