http://MikesDailyMarketReport.com: We only have Wholesale Inventories, which doesn't carry much weight with the Markets released today from the Economic Calendar. It was reported that Wholesale Inventories rose 1.4% in November. However, this week will provide us with some inflation data (CPI and PPI) and Retail Sales, which will move Markets with their release. Currently, there is talk that the Fed will raise rates 4 times this year, which is higher than the Fed's Dot Plot and the sentiment that the Fed will be more aggressive with their Balance sheet reduction. This has set off the big push last week with MBS, which we saw Mortgage Rates rise. It has continued today, as the Market was Down quite a bit, as they initially competed with Corporate Bonds; and when the European Markets closed, then MBS found some buyers. MBS is currently Down about 23bps. Mortgage Rates are higher than Friday's close. The one thing helping us is the Technical level that seems to be holding against Yields. Yields are currently up against the Technical level at 1.78%.
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