Brent Nyitray
Fairlington Blade
Let the mutherfuker burn!
jnc4p
Kevin S. Willis
Michigoose
lmsinca
markinaustin
Arcanaut
novahockey
quarterback
ScottC
yellojktVital Statistics:
| Last | Change | Percent | |
| S&P Futures | 1655.4 | 2.0 | 0.12% |
| Eurostoxx Index | 2764.4 | 6.1 | 0.22% |
| Oil (WTI) | 107.8 | 0.6 | 0.56% |
| LIBOR | 0.258 | -0.001 | -0.35% |
| US Dollar Index (DXY) | 82.18 | 0.012 | 0.01% |
| 10 Year Govt Bond Yield | 2.92% | 0.03% | |
| Current Coupon Ginnie Mae TBA | 103.1 | -0.5 | |
| Current Coupon Fannie Mae TBA | 102 | -0.2 | |
| RPX Composite Real Estate Index | 200.7 | -0.2 | |
| BankRate 30 Year Fixed Rate Mortgage | 4.56 |
Markets are higher this morning after the ADP jobs report predicted 176 private sector jobs were created in August and initial jobless claims came in at 323k. Productivity was higher, while unit labor costs fell. Bonds and MBS are down small.
RealtyTrac is reporting that 10.7 million homeowners are deeply underwater (LTV > 125%), which represents 23% of properties with a mortgage. This number is down from 12.5 million (or 28%) a year ago. Another 8.3 million are in the 90 – 110 LTV range, and if real estate prices continue their recent appreciation, this could bring the supply / demand dynamics back into equilibrium as these homes gain equity and become available for sale. Lack of inventory has been a problem in the market and has been distorting some of the repeat-sales indices as professionals and cash buyers compete for the few homes that are available. Needless to say, this is welcome news for originators as it would boost purchase activity as refis dry up.
Washington Post has a quick and dirty on what a Summers Fed would look like. Punch line: not a lot different than a Bernanke Fed, at least as far as policy is concerned. So far, it looks like Summers is Obama’s first choice.
Yesterday’s Fed Beige Book didn’t have much new to say. Eight districts reported moderate growth while 5 reported modest growth. Residential real estate activity increased moderately, while lending activity was mixed. Lending standards were largely unchanged, while credit quality improved. Hiring and wages increased modestly.
Filed under: Morning Report |
All Things in Moderation 
Standby for another exquisite day of fascinating links and hilarious trolling commentary!
You’re Welcome.
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First up, Byron York brings the funny.
@ByronYork: Obama 4-point Syria plan: 1) Surprise Congress by asking for war authority. 2) Play golf. 3) Make some phone calls. 4) Leave country.
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The decline of American hegemony is a very difficult thing for many politicians to accept.
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Click to access early-look-at-premiums-and-participation-in-marketplaces.pdf
Does the ACA “save”? Check out the before and after the subsidies are applied to the costs.
So what we were told was true… from a certain point of view
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Re America’s declining hegemony.
http://www.thedailybeast.com/articles/2013/09/05/who-shrunk-america.html
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Nova, we’re about to find out if the young and healthy don’t buy insurance ’cause the pre Ocare plans were shitty or because they’d rather spend $150/month on hookers and blow.
My, er, money’s on the tootskie and happy endings.
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Aww, the hack Greg Sargent is having a sad.
@ThePlumLineGS: At this point, Obama simply must focus the argument on *why strikes would make the situation better*: http://t.co/WNoXvH2hJU
#SadTrombone
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McWing (from GS):
Obama simply must focus the argument on *why strikes would make the situation better
Does such an argument even exist? It appears to me that the proposed strikes are intentionally designed to have virtually no effect on the situation whatsoever. The only purpose seems to be so O can say he did something.
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It appears to me that the proposed strikes are intentionally designed to have virtually no effect on the situation whatsoever. The only purpose seems to be so O can say he did something.
I don’t know about the “intentional” part, but otherwise I agree with everything you just said.
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In Syria, hurting Assad helps Al Queda. Hurting Al Queda helps Assad. Obama’s idiotic remark put him in a jam and he knows it. I am now convinced that throwing it to Congress is his way of getting out of it. He’ll weaken the office, which is good, and have to blame the D’s in Congress.
Like I wrote the other day, this Administration cannot manage anything.
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I just called my rep (Connelly and said “do nothing”
but he’s drafting some resolution w/ Van Holleen that has “no boots on the ground”
i’m assuming that’s before a pilot gets shot down or has to bail out. then there would be at two boots on the ground.
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See, no intent to pass. This is O’s out.
http://www.politico.com/story/2013/09/nancy-pelosi-syria-96292.html
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the calls are running 100-1 against. i don’t care how much you might want to support the president, that’s a vote you don’t want to cast.
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the House GOP should pass a non-binding resolution condemning the use of CW. and follow it up with an aid package for the refugees.
if Obama punts you the ball, just punt it right back.
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nova:
if Obama punts you the ball, just punt it right back.
I liked Taranto’s (I think it was his) idea earlier in the week: Instead of voting on a resolution authorizing the president to initiate military action, vote on a resolution prohibiting him from doing so. After all, PO claims he already has the authority. When the prohibition doesn’t pass (as it of course won’t), it is back on PO to make the call.
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Great suggestion by AP @ HotAir.
http://hotair.com/archives/2013/09/05/if-congress-wont-punish-obama-for-defying-it-on-syria-they-should-refuse-to-vote/
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“we’re the do nothing congress. so we’ll do nothing.”
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I’m so old…
http://news.yahoo.com/biden-romney-wants-war-syria-iran-172932280–election.html
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that’s a good plan too.
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Lame. Duck.
@jorgeramosnews: Congressman @Raul_Labrador told me he’ll vote no on a Syria attack. Also, says immigration reform might be postponed until 2015
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