http://MikesDailyMarketReport.com: Today, there are no economic data to report; and this week will be very light, with the exception of Thursday, which will contain inflation data (CPI). Markets are taking it's queue from the 12th day of Ukraine/Russia war, as oil reaches $130/barrel and US, along with it's allies, consider banning Russian energy products. Their allies will be more adversely affected, if they act on this consideration, as it makes up 45% of their energy imports; and the US is probably less than 3%. Investors are worrying about Stagflation, as signals appear. Today, the flight to safety moved to gold, as investment dollars are being shuffled over; and concerns of stagflation weigh on the Markets. MBS is currently Down 16bps, as Mortgage Rates worsened slightly from Friday's pricing. Yields have come back down to the 1.74% range.
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