http://MikesDailyMarketReport.com: Wholesale Inventories maintained their pace with 2.3% increase for March. There's not a lot of Economic Data to be released this week, so most focus will be on the upcoming inflation data by CPI and PPI. Investors will be looking for possible acknowledgement that Inflation has peaked. There's still real concern over inflation, which is what's dictating the Markets. Investors are concerned that the Fed may not be doing enough (especially when they announced the 75 bps hike is off the table) and the probability of an economic slowdown (while inflation is still high), which will lead to the worse case scenario (Stagflation). Stocks are Down today and Investors have shifted investment dollars over to Bonds/MBS. MBS is currently Up 33bps, as Mortgage Rates show some improvement after Friday's big selloff. It was very volatile in the immediate morning as the Market sought some liquidity, as Investors had large gaps between what the Buyers and Sellers were willing to buy and sell. It began to improve just before 7am PST and most Lenders improved their rate sheets from it's initial rate sheet. Meanwhile, Yields have slid from earlier highs to just under 3.08% (after touching at 3.17%).
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