http://MikesDailyMarketReport.com:  The Producer Price Index (PPI), which measures inflation on the Wholesale side, was released today for March.  The PPI rose by 1.4% in March, while it's YoY increased by about 1% to 11.2%.  The Core PPI (which excludes food and energy) rose 1.0%, while it's YoY increased to 9.2%.  Investors are shrugging this off a bit today, as they think inflation may be topping out and this excess may not be passed onto the Consumer.  There are a number of Central Banks around the world meeting this week, which Bank of Canada and Bank of New Zealand raised their rates by 0.5%.  ECB will be meeting tomorrow, which could have an impact with our US Market.  I did forget (in the video) to mention that today started off the Q1 Earnings Reports.  A few large businesses d... 04/13/2022

http://MikesDailyMarketReport.com:  The Consumer Price Index (CPI) rose 1.2% in March and it's YoY rose to 8.5%, which is the hottest number since 1982!  However, it's Core CPI (excludes food and energy) rose only 0.3% and it's YoY rose to 6.5%.  The Core CPI data came in lower than forecasts, which provided hope to Investors that maybe we're seeing a top for inflation levels and hope to see it begin to descend (and how fast it can descend).  Markets are doing well on the CPI news!  However, the NFIB Small Business Index reported a 2 year low.  This index measures the confidence with Small Businesses.  They cite inflation as their main concern, but also Labor.  This index is important because Small Businesses make up the majority of our employment.  This could be a factor for future job... 04/12/2022

http://MikesDailyMarketReport.com:  There are no Economic data to report today.  This week will be mostly inflation data being reported (CPI and PPI), which will have an impact with the Markets.  Today, there was a 3 year Treasury Auction, which didn't have any impact.  Investors will look ahead when they begin to release the Q1 Corporate Earnings Reports.  MBS continues it's struggles, as it's Down 44bps this morning.  Mortgage Rates continue to rise, as a result.  Part of the issue is the very hawkish talk (which is normally good for Bonds, but serving as a reminder to investors currently of the inflation situation).  Today, Fed member mentioned that it's highly likely the Fed will raise by 0.5% this coming May's meeting.  Investors are pulling out of the Bond Market, as Japan has dra... 04/11/2022

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 dec... 04/08/2022

http://MikesDailyMarketReport.com:  The Initial Jobless Claims continued to drop, which is good news.  Last week, only 166k filed for first time benefits; and the previous week was revised lower (from 202k to 171k).  However, the Continued Claims rose last week to 1.523 million; and the previous had a very high revision (from 1.307 million to 1.506 million).  I typically do these reports earlier in the day, but today was a bit too busy; and I wanted to get this information out for you, so it was done after the Markets closed.  Stocks were in Mixed Territory and MBS were mainly in positive Territory throughout most of day until later after noon, when Stocks closed in Positive Territory and MBS in Negative Territory.  Investors were still contemplating the FOMC Minutes that were released ... 04/07/2022

http://MikesDailyMarketReport.com:  The Mortgage Loan Activity reported by the MBA show both Purchase and Refinance sides to have declined from last week, but Purchase side is still showing some resiliency.  The BIG wait happened today, as Investors reviewed the FOMC Minutes.  As they feared, the Fed is more worried about inflation than they were back in January.  It indicates that they will apply 0.5% rate hikes and reduce the Balance Sheet by $95 Billion/month.  Once the reduction is underway, then they will look to sell MBS to further reduce it's Balance Sheet.  This will add more pressure to Mortgage Rates, which we'll most likely see toward the 2nd half of the year.  Both Stocks and Bonds are in Negative Territory.  MBS started the day much lower, but had subsided to Unchanged leve... 04/06/2022

http://MikesDailyMarketReport.com:  The ISM Non-Manufacturing PMI jumped up to 58.3 in March.  Anything above 50 is considered expansion.  The Big Market Mover today, which is being received negatively by both Markets, are comments by Fed Vice Chair Brainard.  Lael Brainard is typically a dove, but her comments were quite hawkish; and discussed the reduction of the Balance Sheet.  These comments are ahead of tomorrow's release of the FOMC Minutes, so it may be a forewarning of what Investors may find in the Minutes.  MBS is currently Down 78bps, so Mortgage Rates have been adversely affected.  The good news is the Yields spiked to 2.56%.  Why is this good news?  It un-did the Inverted Yield Curve, as the 2 year Yield is currently at 2.50%.Please subscribe to my YouTube Channel at MikesD... 04/05/2022

http://MikesDailyMarketReport.com:  The only data on the Economic Calendar is the Factory Orders for February, which contracted by 0.5%.  However, we'll receive the FOMC Minutes on Wednesday, which can be a Market Mover.  Stocks are Up today on filings that Elon Musk took in a large share of Twitter.  Meanwhile, US and EU Countries plan to implement more sanctions against Russia for it's role in it's invasion of Ukraine.  MBS are moving (more-or-less) in a sideways pattern today, as it's Down 3bps from Friday's close.   The lack of movement has Mortgage Rates pretty much in Unchanged level from Friday's close.  Yields are settling into the 2.40% range.Please subscribe to my YouTube Channel at MikesDailyMarketRptAlso, these videos are base on my views and not represented by any other ent... 04/04/2022

http://MikesDailyMarketReport.com:  Today is the Big Jobs data by the  Bureau of Labor Statistics (BLS).  We'll start with the Average Workweek Hours, which shrunk by 0.1 to 34.6 hrs/week.  The Non Farm Payrolls for March came in a bit shy of it's forecast at 431k; however, it's still considered a strong number.  Also, It's February number was revised higher from 678k to 750k.  The Unemployment Rate dropped a little more than expected to 3.6%, which is also a strong number.  However, the Average Earnings for March is a double edge sword, as it rose 0.4%.  This is good because people are getting paid more.  This is bad because the higher pay creates higher inflation, as those costs get absorbed into the cost of goods/services.  When we're already experiencing high inflation, this does no... 04/01/2022

http://MikesDailyMarketReport.com:  Today is Day 2 of March Jobs Data, which the Initial Jobless Claims rose back above 200k, at 202k last week.  Also, The Challenger Layoffs (Job Layoff Announcements) jumped up by approximately 6 million.  Something we'll need to watch, as that's a pretty big spike with job losses.  Tomorrow will be the Jobs data from the Bureau of Labor Statistics (BLS).  Personal Income rose by 0.5% in February, which Consumer Spending rose only 0.2%.  Probably our biggest impactful data this week is the Personal Consumption Expenditure (PCE).  The Core PCE is the Fed's favorite gauge for inflation, which gives it such an high impact; especially when one of the biggest concerns with the Markets has been high inflation.  The PCE rose by 0.6% in February, while it's Yo... 03/31/2022

http://MikesDailyMarketReport.com:  The ADP report came out better than expected for March, which reported 455k new jobs in the Private Sector; and it's February data was revised higher, from 475k to 486k.  However, the final revision for the Q4 GDP came in a bit lower, at 6.9%, which we can expect it to come down a bit, as it was propped up due to high demand in Housing, which is expected to slow a bit with higher rates.  Also, much of it was built up from COVID Lockdowns (like a dam bursting).  Yesterday, it was reported that Russia will "fundamentally" move it's attacks away from Kyiv and another city nearby; however, it appears that may have been short-lived, as there appears to be fresh attacks.  There was hope for Peace (and the hope continues) yesterday, which the Markets positiv... 03/30/2022

http://MikesDailyMarketReport.com:  The Case Shiller Home Price Index (HPI), which measures the 20 largest Markets rose by 1.8% in January to 19.1% YoY.  Likewise, the FHFA HPI rose by 1.6% and it' YoY rose to 18.2%.  Funny thing, Consumer Confidence data for February was reduced from it's initial number of 110.5 to 105.7 -a pretty steep decline.  For March, it came in at 107.2; so, before revision, then it would have dropped; however, because of the revision, then it rose.  Later, we could have some impact with the MBS/Yields Markets with the 7 year Treasuries Auction.  The 5 year did fairly well yesterday, which helped the Market for a little bit.  When we did the video yesterday, then we were at approximately Up 5bps and shot up to 17bps after Auction, only to settle in at 9bps.  Tod... 03/29/2022

http://MikesDailyMarketReport.com:  There is nothing on the economic calendar today; however, there will be some important data being released this week, which include the Fed's favorite gauge for inflation (PCE); Jobs data; GDP for Q4; and Home Price Indices.  There is not much new news of late, as we still have conflict in Ukraine with Russia and China continued with more Lockdowns due to Covid.  Oil Prices have settled down a little bit with China's lockdowns, as there will be less consumption/demand in the short-term.  Stocks are a bit mixed today, as NASDAQ is still dealing with high Yields (currently at 2.48%), which cuts into many of their Growth Stocks' profits.  MBS are still having trouble garnering interest from Investors, whom are worried about the thoughts of our economy go... 03/28/2022

http://MikesDailyMarketReport.com:  Pending Home Sales dropped by 4.1% in February to 104.9k seasonally adjusted units.  Meanwhile, Consumer Sentiment dropped by 0.3 to 59.4 in March, as Consumers watch Fed Hikes, Inflation, Ukraine/Russia Conflict unfold.  Markets are reacting to very hawkish comments from Fed Members this entire week and are pricing for worst case scenario, that they will implement multiple 0.5% rate hikes this year (in lieu of the normal 0.25% increments).  Also, there was a report out that Russia may be satisfied with less than full control of Ukraine, which has the Markets shifting investment dollars from Treasuries and Bonds back to Equities.  Stocks are Mixed, as NASDAQ continues to get hurt by the higher Yields, which are now up to 2.48%.  Meanwhile, we've exper... 03/25/2022

http://MikesDailyMarketReport.com:  The Initial Jobless Claims dropped below the 200k for the first time since the beginning of the Pandemic.  It came in at 187k; and the Continuing Claims declined, as well.  However, the Durable Goods Orders dropped by 2.2% in February.  Markit PMI released both their Services and Manufacturing data for March, which anything above 50 is considered expansion.  The Services went up to 58.9, while the Manufacturing rose to 58.5.  Both sectors had forecasts of regression for March, but they had improved.  There were a few different Fed Speakers today, which all pretty much feel there will be 7 rate hikes this year; and they're looking to get the Fed Funds rate to the 2.75% - 3.00% range.  Meanwhile, NATO leaders meet and added more sanctions against Russia... 03/24/2022

http://MikesDailyMarketReport.com:  New Home Sales dropped 2.0% in February to 772k seasonally adjusted units due to spike in Mortgage Rates, as affordability continues to decline.  The hawkish talk from other Fed Members continues, as the Markets adjust to the Fed's policy changes, which include ramping up on rate hikes (may include higher than 0.25% hike increments) and balance sheet reduction.  As Yields have spiked to nearly 2.40%, then Investors have moved over some investment dollars to Bonds and Treasuries.  MBS has had a seesaw type of morning, as Investors bought early on, only to sell off, and appear to be buying again.  Currently, MBS is Up 20bps.  Mortgage Rates are showing some improvement from yesterday's close, after we saw 2 days of selloff.  Yields have come down to 2.3... 03/23/2022

Redondo Beach Market Report - Feb '22 Redondo Beach real estate was quite unusual in February.  Number of home sales dropped from 27 houses sold in 2021 to just 8 sales a year later.  Home prices, however, continued to rise.  The median house sale price went up by 17 percent, while the average home price increased by 11 percent compared to February 2021.  It took 8 days quicker to sell a property in Redondo Beach.Here is the detailed sales data: Redondo Beach 2022 2021 Difference Number of sales  8 27 - 19 Median sold price $1,610,000 $1,375,000 + 17% Average sold price $1,697,500 $1,528,959 + 11% Days on market 7 15 + 8 Date is based on CRMLS; single family homes onlyIf you're thinking about selling your Redondo Beach home, contact us for a comprehensive, free home evaluation.  Or clic... 03/21/2022

http://MikesDailyMarketReport.com:  Existing Home Sales dropped 7.2% in February to 6.02 million seasonally adjusted units.  But, Leading Indicator Index rebounded in February to 0.3%, after a bit of a contraction (-0.5%) in January.  Investors continue to monitor the Ukraine/Russia situation, as it's being reported that Russia was bombing Lviv, which is a city near the Poland border.  Meanwhile, a few Fed Members, Waller and Bullard, both indicated that they'd like to see at least a 0.5% rate hike at one of the meetings, and possibly multiple times this year.  Waller would like to see the Fed Funds Rates at or above 2-2.25% and Bullard would like it at 3.0% by year end.  MBS was Up (+25bps) for a bit this morning and many Lenders repriced for the better; however, over the past 40 minut... 03/18/2022

http://MikesDailyMarketReport.com:  Housing Starts rose by 6.8% in February to 1.769 million seasonally adjusted units; however, Building Permits (future Housing Starts) dropped 1.9% to 1.859 million.  This matches the drop in Home Builder Confidence, which is mostly attributed to the higher Mortgage Rates and lower Affordability.  Meanwhile, the Philly Fed Index surpassed forecasts in March to 27.4.  This index measures manufacturing in the Philadelphia region.  This improvement is a vastly different view than what we saw from the NY region earlier this week which contracted.  The Initial Jobless Claims dropped down to 214k last week; and Continued Claims dropped too.  Lastly, the Industrial Production rose 0.5% in March.  The Bank of England hiked their rates today, like our Fed yeste... 03/17/2022

http://MikesDailyMarketReport.com:  Retail Sales only rose 0.3% in February after a hot January, which rose (revised higher) 4.9%.  The NAHB Home Builders Index declined again in March to 79.  This index measures the confidence with Home Builders.  This is mostly attributed to higher Mortgage Rates and lower Affordability.  Next up, is the Fed's Announcement at 11:15 am PST, which they're expecting to announce a rate hike.  Investors will review it's change in policy, especially with new events (Ukraine/Russia and lockdowns in China).  They will also look toward the Dot Plot for estimates on future rate hikes, which many are projecting between 5-7 this year.  Markets are positioning ahead of the Announcement.  Stocks are currently Up with news of progress with cease fire talks.  MBS is ... 03/16/2022