Vital Statistics:
Last | Change | Percent | |
S&P Futures | 1838.0 | 3.7 | 0.20% |
Eurostoxx Index | 3137.6 | 6.0 | 0.19% |
Oil (WTI) | 102.5 | 0.3 | 0.29% |
LIBOR | 0.234 | -0.001 | -0.21% |
US Dollar Index (DXY) | 80.28 | 0.045 | 0.06% |
10 Year Govt Bond Yield | 2.73% | 0.00% | |
Current Coupon Ginnie Mae TBA | 105.5 | 0.1 | |
Current Coupon Fannie Mae TBA | 104.2 | 0.0 | |
RPX Composite Real Estate Index | 200.7 | -0.2 | |
BankRate 30 Year Fixed Rate Mortgage | 4.35 |
Markets are higher this morning on no real news. Bonds and MBS are flat.
This week contains some important economic data, starting with the real estate price indices Case Shiller and FHFA. Wednesday, we will get new home sales. Thursday we get durable goods orders, and Friday is the second revision to Q4 GDP. The Street is forecasting a big revision downward – the advance estimate of Q4 GDP came in at +3.2%; The forecast for the second estimate is 2.5%.
This week contains a lot of earnings reports which are related to the real estate business. We will hear from big box home improvement retailers Lowe’s and The Despot, Agency MBS REIT giant Annaly, luxury builder Toll Brothers, and servicing biggies Ocwen and Nationstar. It will be interesting to see if management of NSM or OCN weighs in on the latest hostilities out of Washington or steers clear.
Ally (ex-GMAC) is planning to go public in March and hopefully give the government an exit from their position. The government owns 37% and is expected to be the only one selling. As of now, it seems like they are sticking with the auto loan business, but we’ll see if they get back into resi lending.
Good article on why the current housing weakness my be temporary.
Filed under: Morning Report |
These people are about to be destroyed.
http://m.us.wsj.com/articles/SB10001424052702303945704579390772732855560?mg=reno64-wsj
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View at Medium.com
fascinating read. FWIW, i’m ethnically Ukrainian, so i’ve taken an interest in this. I suppose it helps that people who look like my aunts were squaring off against the government troops.
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nova:
I was just reading that, too. Very interesting.
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A pro-choicer faces the logic the of his position: “after-birth abortion”.
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I recall hearing that argument in an undergrad ideologies course. I’m half convinced the person making the argument was trolling, but maybe not.
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nova:
I think it is not unheard of in academia. Ramesh Ponnuru had a chapter on it it his book, The Party of Death.
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Meetings suck.
FYI.
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http://www.despair.com/meetings.html
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A weirdly entertaining read, although surely for entirely unintended reasons. Worthwhile if for no other reason than to witness the unironic use of phrases like “heteronormative structure” and to ponder the implications of someone who “identifies as a lesbian” – not to be confused, I am left to guess, with someone who actually is a lesbian. And this was a real head-scratcher: “I asked women and those who identify as female whether they groom and what their vulva waxing routine is.” Wait a second…women and those who identify as female? How someone who is not actually a woman but who only “identifies as female” might be able to pontificate on their own “vulva waxing routine” will remain an enduring mystery to me.
Also notable is the apparent need of these feminists to fret over whether they are doing this for themselves or their male partners (or I suppose we should say their partners who identify as males, which the author strangely fails to do). God forbid a feminist do something to please someone of the opposite sex, or gender, or identity, or whatever. Which makes me wonder whether I should start trying to convince myself that when I go to the inconvenience to lift the toilet seat before taking a piss, and then put it back down afterwards, I am doing it for myself, and not for the person who identifies as my wife.
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ScottC: What’s to stop a man who identifies as a woman from identifier her penis as a vagina? I mean, when words stop meaning things, why can’t I just say that I refer to my hand as my foot. So when you refer to my hand, please call it a foot.
In other news, Putin praises America’s effort to keep homosexuals out of sports:
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The Saletan column is well done and refreshingly honest. But his attempt to resist the argument on the ground that birth changes everything does not work. The argument for “after-birth abortion” also is not new. I don’t think it is even new as presented in the article he is discussing.
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As for the “waxing” article, all I can say is, this culture has gone completely bonkers.
I especially liked the term “heteronormativite.” I guess I must be one of those, too, seeing how I’ve been branded a homophobe for saying heterosexuality is the norm. But what is the difference? No one has any clue, of course. These people are all mad.
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QB:
These people are all mad.
Yes, they are.
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This is awesome!
http://www.thedailybeast.com/articles/2014/02/24/here-come-the-democratic-birthers.html
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I thought Presidential swagger was bad.
http://www.usnews.com/news/articles/2014/02/24/obama-plays-hardball-with-gop-governors-in-chilly-meeting
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It’s over for Walker.
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I thought Presidential swagger was bad
It will be again in 2017.
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I despise thug, crooked, lawless, and careless cops.
Have seen them all.
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Meeting day 2: You All Suck and Here’s Why.
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@Troll:
I would never think Walker electable nationally. I don’t think it ever started for Walker. I mean, unless the Democrats did something insane like run Hillary Clinton against him. Of course, I’m not 100% sure we could trust Walker’s mouth. Gotta watch what you say about Hillary or the press will murderlize you.
@qb: “These people are all mad.”
No, the are differently-thought-enabled.
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Kevin:
No, the are differently-thought-enabled.
They “are” or they just “identify” as such? 😉
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@ScottC: I’m pretty sure they identify as being sane, while all others are mad.
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