Morning Report – Johnson-Crapo gets out of Committee 5/16/14

Vital Statistics:


  Last Change Percent
S&P Futures  1867.0 -0.3 -0.02%
Eurostoxx Index 3166.2 3.0 0.09%
Oil (WTI) 101.9 0.4 0.36%
LIBOR 0.229 0.003 1.22%
US Dollar Index (DXY) 80.1 0.101 0.13%
10 Year Govt Bond Yield 2.50% 0.01%  
Current Coupon Ginnie Mae TBA 106.4 -0.2  
Current Coupon Fannie Mae TBA 105.4 0.0  
BankRate 30 Year Fixed Rate Mortgage 4.16    


Markets are flattish after a better than expected housings starts report. Bonds and MBS are down
Housing starts rebounded in April to a annual rate of 1.07 million, an increase of 13.2% month-over-month. Building Permits increased to 1.08 million, an 8% increase. This is still well below the historical average of 1.5 million units a year, and still a dismal number compared to pre-bust levels. 
Johnsnon – Crapo (the GSE reform bill) got out of Committee today, with all the liberals voting against it. The liberals dislike the bill because they want affordable housing mandates. Given the lack of support from liberals, Senate Majority Leader Harry Reid is unlikely to bring the bill to the floor. 
The National Federation of Independent Business released their small business confidence survey yesterday, showing that confidence is improving, but still below par. The two biggest problems for small business remain taxes and regulations.

15 Responses

  1. bending that cost curve, baby!


  2. Another day, another layer of Obamacare magical thinking dissolved. The solution is so obvious, though: direct price control. Or just mandate that expensive procedures be provided free. That works, right?


  3. I love death panels!!


  4. You baggers don’t want people to have health care… you just want them to die in the streets, quickly.


  5. The old system was terrible because insurers and employers could limit benefits and leave people to pay bills.

    Obamacare is so much better.


  6. I actually do want people dying in the streets. It might encourage others to use their own resources to improve their health and/or make arrangements for their future inevitable ill health. The sight of suffering is a strong motivator for most people.

    That and I’m a sick, sadistic bagger.


  7. Warning


  8. Hmmmm…


  9. This should be good:

    “Moreover, “if debt collectors come to be seen as the public face” of President Obama’s health-care program, Olson wrote, “I am concerned that could make the IRS’s job” of administering the new health-insurance program “more difficult.””


  10. WTF?

    “Risk corridors should be operated without the constraint of budget neutrality,” America’s Health Insurance Plans, the industry lobby, urged CMS in a letter.

    Democrats favorite fucking constituency.


  11. Running the Brooklyn 1/2 marathon tomorrow morning..looks like I might have lucked out weather-wise… rain should end around 5:00 am, should be in the mid-50s at start and not hit the 60s until I am done..


  12. What are you Brent, some kind of health nut?

    Have a great run!


  13. We’re heading to the beach in the morning……………..YAY. I just checked and the water temp is still only 64, about normal for May, so a big swim is out of the question but I imagine I’ll get used to it enough to do some frolicking.

    I’m afraid it’s still going to be smoky though as we had some awful fires this past week…………it’s been hotter than blazes. Sunday we’ll swing by our favorite seafood market and stock up!


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