http://MikesDailyMarketReport.com: Wholesale Inventories rose 0.8% in January, which came in as expected. Later this morning, there will be a 3 year Treasury Auction, but it shouldn't impact the Markets much, but tomorrow's 10 year will have more of an impact. Stocks are Up, especially the Energy sector, as they buy on the dip and as the energy prices rise, so are their profits. Similarly, when the interest rates begin to rise, then the financial sector will profit more too. The US officially decided to ban energy products from Russia to add more pressure on them. Meanwhile, this is sending shock waves to energy prices, along with higher prices with metals, wheat, etc... (the trickle down effect). The inflation concerns has MBS Down 42bps today (after closing down 43bps yesterday). Mortgage Rates continue to worsen based on these concerns. Meanwhile, Yields spiked about 10 points and are currently up to 1.87%.
Please subscribe to my YouTube Channel at MikesDailyMarketRpt
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.