Wednesday, April 13, 2022

Daily Market Report 4/13/22  The Producer Price Index (PPI), which measures inflation on the Wholesale side, was released today for March.  The PPI rose by 1.4% in March, while it's YoY increased by about 1% to 11.2%.  The Core PPI (which excludes food and energy) rose 1.0%, while it's YoY increased to 9.2%.  Investors are shrugging this off a bit today, as they think inflation may be topping out and this excess may not be passed onto the Consumer.  There are a number of Central Banks around the world meeting this week, which Bank of Canada and Bank of New Zealand raised their rates by 0.5%.  ECB will be meeting tomorrow, which could have an impact with our US Market.  I did forget (in the video) to mention that today started off the Q1 Earnings Reports.  A few large businesses did well; however, JP Morgane Chase did not.  MBS is Up 34bps this morning, as Mortgage Rates improved a bit.  However, need to caution as we have a 30 year Bond Auction today.  Yesterday, the 10 year Treasury Auction disappointed; and MBS pulled back from earlier highs, as Mortgage Rates slightly worsened.  Yields are now around 2.68%.

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