MBS rose by 31 bps, stocks were up 10 points, and bonds opened stronger in Asia due to unresolved debt ceiling issues, friendly comments from the BOJ, and Ukraine war escalation. Despite slightly weaker economic reports in Europe, gains continued. Case Shiller reported a 0.5 increase in month-over-month home prices, while FHFA showed a 0.6 increase. Year-over-year, Case Shiller reported a -1.1 change, and FHFA indicated a 3.6 increase. South Carolina, North Carolina, Maine, Vermont, and Arkansas experienced the fastest growth in home prices, while Utah, Nevada, California, Washington, and D.C. saw declines. Seattle led with -12.4%, and San Francisco followed with -11.2%. Home prices have risen year-over-year for 45 consecutive quarters nationwide. The White House and House Republicans reached a tentative agreement to raise the debt ceiling, awaiting approval from Congress. The jobs report, home prices, productivity, and ISM data will dominate the week ahead. Consumer confidence declined in May, with reduced expectations for current employment conditions, while inflation expectations remained high at 6.1% over the next 12 months. Bond market fluctuations were attributed to position squaring, European strength, and debt ceiling delays. MBS ended the day up 44 bps, while stocks remained unchanged.