http://MikesDailyMarketReport.com: There are no economic data to report today. We'll look at Inflation data later this week, with the PPI and CPI reports. There are a few Treasury and Bond Auctions, which could theoretically influence mortgage rates (depending upon the demand). The Markets are taking it's cue a bit from Friday's announcement around the Pfizer anti corona virus pill, as it created much optimism with Investors. Meanwhile, we have a few Fed Members speaking today. Fed Member Bullard spoke a bit earlier today, which he foresees the Fed raising rates at least twice in 2022; and more rapidly, if inflation persists. MBS started the day a bit lower today (on it's 50 DMA). It's currently Down 9bps, which has been steadily improving over the past few moments while creating this video. Earlier Ratesheets may indicate a little worse pricing; however, the later Ratesheets my indicate pricing as Unchanged from Fridays close (which MBS closed +41bps -solid day!). Yields are facing similar movements (but inverse) as MBS, as they sit atop it's 50 DMA and up a few bps from Friday's close. It's currently at 1.48%.
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