http://MikesDailyMarketReport.com:  Construction Spending dropped 0.1% in May; however, it's April data was revised higher, from 0.2% to 0.8%.  The ISM Manufacturing PMI dropped from 56.1 in May to 53.0 in June; coming in under forecasts of 54.9.  Anything above 50 with this index indicates expansion.  So, many PMIs were released globally (Asia and Europe) today, which seems to be a global trend that these are slowing down (some even contracted).  This has Investors worried, as the Fed is on trajectory with a very hawkish policy path, which they feel will lead us into a recession (if we're not already in one, as some believe).  As a result, investment dollars are flowing back into Bonds/Treasuries for safe keeping (or "flight to safety").  MBS closed Up 42bps (off from earlier highs), w... 07/01/2022

http://MikesDailyMarketReport.com:  The Personal Consumption Expenditure (PCE) released it's inflation data today.  This index is the Fed's favorite gauge for inflation, so it holds a lot of weight (in terms of impact with Markets).  The PCE rose 0.6% in May, while it's YoY remained Unchanged at 6.3%.  The Core PCE (excluding food and energy; and the data that the Fed uses) rose 0.3% while it's YoY dropped 0.2% to 4.7% in May.  Personal Income rose 0.5% in May; and Consumer Spending rose only 0.2%.  Jobless Claims rose 2k last week to 231k while the Continued Claims rise, as well.  Lastly, the Chicago PMI, which measures manufacturing in Chicago region, dropped from 60.3 in May to 56.0 in June.  The Inflation data was good news for the Markets, as it may indicate it may have peaked.  We... 06/30/2022

http://MikesDailyMarketReport.com:  The Q1 GDP released it's final revision, which dropped another .1% from the previous revision; and the final is a drop of 1.6% for Q1.  MBS is Up today, which it was around 17bps in the beginning of the video, then it jumped up to 25bps.  If this continues, then we could see more price improvements; but overall, Mortgage Rates improved from yesterday.  Speaking of yesterday, it rebounded late in the day to closing up 3bps, after being in negative territory all day.  Improved inflation data out of Germany started a little rally with Euro Bonds, which trickled over to the US.  Sentiment is feeling optimistic ahead of the PCE release tomorrow; however, the CPI sorely disappointed about 2 weeks ago.  This report will have greater impact, as it's the Fed's... 06/29/2022

http://MikesDailyMarketReport.com:  The Case Shiller Home Price Index (HPI), which measures home prices in the 20 largest metros in US, rose 1.8% in April while it's YoY rose to 21.2% (after March lower revision from 21.2% to 21.1%).  The FHFA HPI, which follows conforming loans, rose 1.6% in April while it's YoY dipped to 18.8% (from 19.1%).  Lastly, the Consumer Confidence continues to drop, as it dipped all the way to 98.7 in June.  This is important because if Consumers aren't feeling good about the economy, then they will stop buying, which in turn helps the economy to continue to move along; but the high inflation (namely food and energy) are eating away at many peoples' ability to buy any of the extras in their life (and thus not feeling good about it).  Stocks started up earlier... 06/28/2022