Brent Nyitray
Fairlington Blade
Let the mutherfuker burn!
jnc4p
Kevin S. Willis
Michigoose
lmsinca
markinaustin
Memetrics
novahockey
quarterback
ScottC
yellojktMarkets are higher on no real news. bonds and MBS are down small.
Not much in data this morning. The Markit PMI numbers fell slightly in April from March. I think we can officially scrap “the weather did it” excuse for weak numbers.
The FOMC meets this week, and this will be the last meeting where rate hikes are not on the table. It won’t contain any new forecasts and it won’t have a press release. It should be a nonevent.
This week contains some important economic data (especially for the Fed). We will get the advance estimate for Q1 GDP, Personal Income and Personal Spending, and the PCE deflator (the Fed’s preferred measure of inflation). Note that the first Friday of the month is this week, but the government is delaying the jobs report until next week. The GDP report is going to be weak – the Street forecast is +1.0% – however personal income could move the bond market if we start seeing wage inflation. The PCE deflator will be important on the other side – if inflation remains well below the Fed’s target they have an excuse not to move. Finally, we get construction spending and the Case-Shiller index.
The battle between Quicken and the DOJ is heating up. Quicken CEO Dan Gilbert spoke truth to power on Friday: “This is what happens when you dare to stand up for justice and the truth to the Department of Justice,” Gilbert said on a conference call Friday evening with the Free Press. “This was an attempt to embarrass us and continue to pressure us to write enormous size checks to settle (allegations) to make them go away, and to admit things that did not occur.” The industry is rooting for Quicken on this one – believing the government is systematically making mountains over immaterial clerical error molehills in order to squeeze more 8 and 9 digit settlements out of the industry. Of course, then the government scratches its head wondering why credit is tight, especially at the lower FICO scores. Is it time to start pushing the housing recovery forecast out to 2017? I hope not. At least one economist thinks 2015 is going to be good.
Filed under: Morning Report |
All Things in Moderation 
test
Edit: reinstated for McWing. Frist.
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Things seem to be fixed with commenting directly on posts now.
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Now works on my laptop.
What happened to Scott’s “Frist”?
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Ditto IPhone.
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Interesting reads on the Clinton Global Initiative.
“The Disastrous Clinton Post-Presidency
By Jonathan Chait”
http://nymag.com/daily/intelligencer/2015/04/disastrous-clinton-post-presidency.html
“Unease at Clinton Foundation Over Finances and Ambitions
By NICHOLAS CONFESSORE and AMY CHOZICK
AUG. 13, 2013”
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I thought everyone was bored with the blog…
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I was traveling last week and that’s why I didn’t post as much, but when I attempted to post over the weekend, it wouldn’t work if I was actually signed into WordPress.
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The replies are funny, especially the one referring to Winston Smith.
https://twitter.com/daveweigel/status/592673421898682368
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I knew Ian Reisner when he was an options broker at Solly back in the day…
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I fixed it!!!
Actually, I think it fixed itself. I couldn’t figure out what was going wrong and I tried a couple of different things, none of which seemed to work at the time. But at least we are back.
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This HRC thing is just hilarious. i love it.
i mean, she’ll probably win. but watching her defenders fall over themselves is just fun.
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Thanks Scott.
Saw Lanny Davis on FNC yesterday. He was amusing.
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Brent, I think you are wrong about the MSM being completely in the tank for HRC. There’s too much good material available from the corruption angle:
“The Proof of the Clintons’ Wrongdoing
Her campaign and the media are misreading the scandals.
By Ron Fournier”
http://www.nationaljournal.com/2016-elections/the-proof-of-the-clintons-wrongdoing-20150427
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You should consider a second job in IT, Scott. 🙂
Thanks!!
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Mich:
You should consider a second job in IT, Scott.
Whatever I might have done was completely accidental. I spent half the time trying to figure out which version of wordpresss we are using, and I still don’t know!
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John Cassidy on support for redistribution falling as inequality rises. Same thing that Thomas Edsall from the NYT noted.
http://www.newyorker.com/news/john-cassidy/is-support-for-income-redistribution-really-falling
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jnc, I hope you’re right, but I think journalists are on a mission to elect the first liberal female president..
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Yes, but they want that person to be Elizabeth Warren. Knocking HRC out means that Warren will have to run.
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I would buy that – their objection to Hillary is that she is not Elizabeth Warren. But once it is officially Hillary, the bad press will fade away.
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and they can cite the pre-nomination coverage as vetting the candidate.
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Which is worse, the mob trying to destroy Balitmore or the mob trying to destroy
Christian business owners?
http://www.theamericanconservative.com/dreher/the-javerts-the-sjw-sweet-cakes-by-melissa/
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