http://MikesDailyMarketReport.com: There are no Economic data to report today. This week will be mostly inflation data being reported (CPI and PPI), which will have an impact with the Markets. Today, there was a 3 year Treasury Auction, which didn't have any impact. Investors will look ahead when they begin to release the Q1 Corporate Earnings Reports. MBS continues it's struggles, as it's Down 44bps this morning. Mortgage Rates continue to rise, as a result. Part of the issue is the very hawkish talk (which is normally good for Bonds, but serving as a reminder to investors currently of the inflation situation). Today, Fed member mentioned that it's highly likely the Fed will raise by 0.5% this coming May's meeting. Investors are pulling out of the Bond Market, as Japan has dramatically reduced their investments with US Bonds to invest in their own Bonds. The lack of demand is driving Mortgage Rates higher. 10 Year Treasuries are now up to 2.78%; and approaching the highs of 2019. So far, it doesn't appear to be a ceiling for the Markets, so more deterioration will most likely occur.
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