Morning Report – Meet Kevin McCarthy 6/13/14

Vital Statistics:

Last Change Percent
S&P Futures 1925.5 2.3 0.12%
Eurostoxx Index 3277.2 -7.1 -0.22%
Oil (WTI) 106.6 0.1 0.08%
LIBOR 0.232 0.002 0.65%
US Dollar Index (DXY) 80.62 0.048 0.06%
10 Year Govt Bond Yield 2.64% 0.04%
Current Coupon Ginnie Mae TBA 106.1 -0.3
Current Coupon Fannie Mae TBA 105 -0.2
BankRate 30 Year Fixed Rate Mortgage 4.21


Stocks are flattish this morning on no real news. Bonds and MBS are down.
Inflation at the wholesale level remained low in May, with the Producer Price Index coming in at -.2% in May.
Consumer Confidence retreated in June, coming in at 81.2 versus expectations of 83.
It might take 1 – 2 years for housing starts to get back to normalcy. Of course it will all depend on when the first time homebuyer returns.
Meet Kevin McCarthy, one of the possible successors to Eric Cantor’s position of House Majority Leader. He is a classic business Republican who doesn’t have an interest in fighting the social issue battles.
Short note today as there is not a lot going on.
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