http://MikesDailyMarketReport.com: There are no economic data to report today; however, this week will be packed with important data being released. Friday will be the BIG day this week, as the PCE will be released. Investors are hoping that inflation data has peaked, so we can hopefully see it to trickle downwards. Meanwhile, Investors are on the fence about the Lockdowns in China, as more cities are being locked down. This has helped to reduce the price of oil to under $100/barrel and reduce consumer consumption in China, which will reduce short-term inflation; however, it will also bottle neck the supply chain and create more inflation in Europe and US long-term. Stocks are Down, as this will reduce growth prospects. Meanwhile, MBS is currently Up 72bps, as Mortgage Rates improve today. Be careful, as we still haven't found a floor yet; and we've seen this (head fakes) before! Also, Yields have fallen quite a bit today, as they're now in the 2.77% range.
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