http://MikesDailyMarketReport.com: The Chicago PMI dramatically dropped from 65.2 in January to 56.3 in February. This index measures the business and manufacturing activity in the Chicago region. Anything above 50 is considered expansion. The Big tickets for the Economic Calendar this week will be February's Jobs data. The biggest impact for the Markets today continues with the Ukraine/Russia narrative. It is reported that Russia put their nuclear defense into high alert. Meanwhile, the US Treasury will not trade US dollars with Russian Central Bank and Russian Banks were removed from SWIFT. All these actions, along with more, are negatively affecting the Stock Market. Investors are moving their investment dollars to "flight to safety" by placing them into Bonds/Treasuries. MBS is currently Up 48bps, so Mortgage Rates have improved since Friday's close. Also, Yields have dropped all the way down to 1.86%.
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