Thursday, March 10, 2022

Daily Market Report 3/10/22  Today is the week's biggest report, which is the Consumer Price Index (CPI), which measures Consumer Inflation.  The Headline number rose 0.8% in February and it's YoY rose to 7.9%; but if you excluded the Food and Energy, which is the Core CPI, the it rose 0.5% in February and it's YoY rose to 6.4%.  Of course, these are 40 year highs!  Meanwhile, the Initial Jobless Claims rose to 227k last week with more people Continuing Claims.  The Markets started in the Red early this morning after the ECB announcement.  The ECB announced that they (like our Fed did earlier) will speed up their Bond Purchases due to rampant inflation.  Currently MBS is Down 42bps and had an earlier price change for the worse; so Mortgage Rates are again worse today.  However, a possible bright spot happened with the 30 year Bond Auction, which went very well.  This Auction may have topped off the MBS decline (at least for today).  It's been moving sideways since the Auction results.  Also, Yields have spiked back up to the 2.00% level again!

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Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then please direct message me.

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