http://MikesDailyMarketReport.com: There are no economic data to report today; however, later this morning, the 10 year Treasury Auction will take place. This could potentially move the Markets a bit, depending upon it's success, or lack thereof. Meanwhile, Ukraine and Russian Ministers meet in Turkey to discuss possible detente and Market is reacting positively to the news. Also, many US companies are announcing their move from Russia, as the war continues. Unfortunately, for MBS, the investment dollars are leaving and flowing back to equities again today. MBS started the morning much lower, but has subsided a bit to being Down 23bsp. So far for the week, we're down about 100bps, or about a 1 point. Not a good week for Mortgage Rates! Yields continue to rise and are currently Up to 1.91%.
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