Morning Report: Oil continues to slide 12/11/15

Stocks are lower this morning on emerging market weakness and oil. Bonds and MBS are up.

Retail Sales rose 0.2% in November, lower than expectations. Ex food, energy and building materials, they rose 0.6%, better than expectations.

Inflation at the wholesale level remains under control as the producer price index rose 0.3% in November. Ex food and energy and trade services it was up 0.1%.

Morgan Stanley is warning investors that the world’s central banks could succeed in creating inflation. Markets are definitely priced right now as if inflation is never ever coming back. We could see another bond sell-off like the “taper tantrum” of 2013. IMO, until we start seeing wage inflation we don’t have anything to worry about on that front.

Zero down-payment jumbo loans are back. Up to 2 million, provided you live and work in San Francisco

The House Financial Services Committee has picked up on the CFPB suing firms on discrimination using bogus data.

The MR will be spotty next week as I will be on the Left Coast

9 Responses

  1. BWAhahahahahaha!!!!! Frist, KW, frist!

    Like

  2. From a long ago Bits and Pieces, Tears for Fears “Head over the Heels” the literal video. YouTube may have taken it down, but it’s still on ebaumsworld!

    http://www.ebaumsworld.com/video/watch/80653636/

    YouTube does have several literal videos though. Including the literal video for Micheal Jackson’s Billie Jean.

    Like

  3. Literal video for Let it Go:

    Like

  4. Gasoline prices, regular, in Austin: $1.679 to $1.879. My station $1.769.

    Like

  5. @mcwing: As in all religions, all things are the will of God? Excessive snow? That’s the will of AGW. No snow? Also the will of AGW. Alternative cycles of lots of snow and no snow? The will of AGW.

    The only answer is tithing and animal economic sacrifice.

    Like

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