http://MikesDailyMarketReport.com: The Wholesale Inventories rose 2.5% in February. Markets are positioning themselves for next week ahead of the release of the Q1 Corporate Earnings Reports. There's not much impacting the Markets today, other than positioning themselves; and Stocks have been dictating the Market movements. MBS has much against it; and the Markets are still looking for a top, but it hasn't been figured out. We have the new Fed Policy, which will greatly affect it's direction with it's rate hikes, Balance Sheet Reduction and sale of MBS -all bad news for MBS! On top of that, the rate hikes may not really help with the inflationary pressures, which much of it derived from the supply chain issues and high energy prices. MBS is Down about 33bps, so Mortgage Rates declined for another day. Yields continue climbing (now up to 2.71%), further steepening the Inverted Yield Curve.
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