http://MikesDailyMarketReport.com: There's a lot of data on the Economic Calendar to report today. We'll start with the Retail Sales and Retail Sales without Autos for May, which were both up 0.5%. This was on the heels of a positive revision the previous month for both data points. Industrial Production rose 0.4% in May. Capacity Utilization rose from 77.9% to 78.1% in May. However, Consumer Sentiment dropped from 100 to 97.9 in June. It's final number will be toward the end of the month, so we'll see if the Consumer is feeling less enthused continues for the whole month. Business Inventories rose 0.5% in April. Stocks are down, even though we have relatively good economic data being reported, however, the Geo-Political news is taking more of a command of the Markets today. China reported some more disappointing Economic data, which is reminder to the Investors on an Global Economic slowdown. Iran is denying any part in the recent Tanker attacks. Oil prices are higher, which neither the Stock, nor Bond likes the news of higher Oil prices. Of course, there are concerns that this could result in more tensions, and possibly with Military involvement. Broadcom has lowered their expectations for the year, which is being attributed to the impasse between the US and China. This is affecting the rest of the High Tech sector. MBS is currently down 6bps, so Mortgage Rates remain Unchanged. Yields have slid down to the 2.08% range and is testing the floor of support, which is important to Yields. If this breaks, then Mortgage Rates can continue to improve off these current rates.
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