http://MikesDailyMarketReport.com: Initial Jobless Claims rise to 229k this week, as it hits a 5 month high. Markets reacted quickly to the hawkish ECB's announcement, which announced they will hike rates in July; end their asset purchases (reinvest matured bonds); and revised their inflation data higher in their forecasts. This set the tone with the Markets in the EU in a negative manner, which trickled over to the US Market. MBS is currently Down 23 bps, as it's been rising and dropping, like a seesaw all day. The 30 year Bond Auction temporarily helped push up MBS, but it has dropped again thereafter. Mortgage Rates have worsened slightly. Yields have risen slightly to 3.04%.
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