Morning Report – Meet Kevin McCarthy 6/13/14

Vital Statistics:

Last Change Percent
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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.

31 Responses

  1. This headline from the vaunted NYT,

    Tanks, of Unknown Origin, Roll Into Ukraine

    I think the culture at the NYT loves a strong horse. They also don’t understand the fuss around Walter Duranty.

    http://mobile.nytimes.com/2014/06/13/world/europe/tanks-of-unknown-origin-roll-into-ukraine.html?hp&_r=1&referrer=

    Thoughts? I mean, whose tanks would they be?

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    • Thoughts? I mean, whose tanks would they be?

      Obviously Chechen rebels who Putin will have to destroy to save poor Ukraine.

      Like

  2. Heh.

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  3. I think we can all agree, no?

    https://twitter.com/InclusiveSarah/status/477258497025769474

    If not, why not.

    I mean besides the fact she’s just a dumb woman (BIRM)?

    AmIRight?

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    • George, it is time for me to retrieve the Fathers’ Day quotation.

      JNC, I gave TJ a 4 day run – hope you saw it.

      Like

  4. That is a strange use of the word “inadequate.” Is she saying we should have a “fathers week” or a “father’s month?”

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  5. I have no idea what that means.

    But I am pretty sure that McDaniel is the next senator from MS.

    “I don’t know what you’re talking about. What happened in Virginia?”

    — Sen. Thad Cochran (R-MS), quoted by Fox News, apparently unaware that House Majority Leader Eric Cantor (R) lost his seat in a primary.

    Like

  6. Plus his obscene things he did to animals when he was a kid.

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  7. There is that aspect of things. Well, he can relive his childhood when he is put out to pasture.

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  8. Jesus, that turned me on!

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  9. The Money Pit is for sale.

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  10. Why would the NYT do that?

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  11. apparently the word “trigger” is banned at WaPo.
    tried to write “trigger warning”

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  12. Yep, thanks Mark.

    Nice concise piece on the effects of subsidies in higher education.

    http://www.forbes.com/sites/ccap/2011/04/11/subsidy-absorbing-institutions-of-higher-education/

    Like

  13. Total non-scandal.

    Coulda happened to anyone, AmIRight?

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  14. Reminds me of Karl Rove’s E-mails going missing during the US Attorneys scandal.

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  15. What should we think about Single Payer in light of the Lost Email Non-Scandal, The Obamacare Exchange disaster, The VA murders, etc.?

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  16. What should we think about Single Payer in light of the Lost Email Non-Scandal, The Obamacare Exchange disaster, The VA murders, etc.?

    Intentions matter, not results, bagger..

    Any ill effects are due to the Koch Brothers undermining democracy…

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  17. McWing: here. A fire extinguisher.

    Like

  18. Good answer. Now I’m desperate for Single Payer! It’s obviously the thing that will make the Federal Government efficient!

    Thanks! Why didn’t I think of that?

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    • McWing:

      Who’s actions here are defensible?

      Will is absolutely correct. I particularly like his point that it is Feinstein and company who are trivializing the issue.

      Maybe you should pass your new fire extinguisher over to the letter-writing congressmen.

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  19. Drudge ain’t helping Chelsea Clinton with that picture.

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  20. What was the Senators goals? Let’s try a thought experiment. What would be the media reaction to a 2003 letter from, say, Senators McCain, Graham and Coburn to Michael Tomasky editorial in which he accused the Bush Administration’s statistics about the amount of WMD capability Iraq has?

    “Chill Wind” apeshittery?

    Ah, fuck! I’M DEALING WITH AN INFERNO!!! GET OUT BEFORE THE FLAMES DEVOUR THE FLESH OFF YOUR BODY AND LEAVE YOU WITH NOTHING BUT SMOKING, CHARRED BONES AND THE HORRENDOUS, NAUSEATING STENCH OF BURNED FLESH!!!!!

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  21. What was the Senators goals?

    To push the narrative that the right is anti-woman. And hopefully some pissed off feminists write a check.

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  22. Get ‘em Mich’s fire extinguisher.

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  23. Alright! Kudos to the NYT for covering the missing emails to the non-scandal.

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  24. That explains why obama was able to confidently say “there isn’t a smidgen of evidence” that there was any corruption at the IRS…

    Like

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