http://MikesDailyMarketReport.com: Housing starts rose 0.3% in March to 1.793 million seasonally adjusted units. Also, Permits rose 0.4%, as it reached 1.873 million. Both exceeded forecasts; especially as confidence with Home Builders dropped 2 points for April, so next month's release will be interesting. Stocks are Up today, as they continue to review Q1 Earnings Reports. Also, IMF stated the obvious, which is the expected economic growth will slow down due to the Russia/Ukraine conflict. They stated it will slow down to 3.6% (by their estimate) and did not mention anything regarding thoughts on recession or stagflation. European Markets finally reopened, after a long holiday weekend. Investors started to sell Bonds in EU and it trickled down over to the US in early hours. MBS is currently Down 14bps (up from earlier lows), which has led to slightly worse pricing for Mortgage Rates today (compared to yesterday). Yields have spiked to 2.90%, so we're now talking about the 3.0% threshold for Yields.
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