http://MikesDailyMarketReport.com: Pending Home Sales dropped by 4.1% in February to 104.9k seasonally adjusted units. Meanwhile, Consumer Sentiment dropped by 0.3 to 59.4 in March, as Consumers watch Fed Hikes, Inflation, Ukraine/Russia Conflict unfold. Markets are reacting to very hawkish comments from Fed Members this entire week and are pricing for worst case scenario, that they will implement multiple 0.5% rate hikes this year (in lieu of the normal 0.25% increments). Also, there was a report out that Russia may be satisfied with less than full control of Ukraine, which has the Markets shifting investment dollars from Treasuries and Bonds back to Equities. Stocks are Mixed, as NASDAQ continues to get hurt by the higher Yields, which are now up to 2.48%. Meanwhile, we've experienced several repricing for the worse with MBS today, as they continue to decline. MBS is currently Down 73bps, as Mortgage Rates continue to worsen.
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