Morning Report: Markets attempt to mount a comeback 1/19/16rally

Markets are higher this morning as commodities rally. Bonds and MBS are down small.

The NAHB Homebuilders Index was unchanged at 60 last month.

Last Friday had some bad numbers with retail sales disappointing and industrial data coming in much softer than expected.

Bank of America reported better than expected numbers this morning, with mortgage production up 13%.

The 10 year bond yield touched 2% on Friday during the stock market sell-off. For those keeping score at home, the 10 year bond yield has dropped about 25 basis points since the Fed hiked rates in December.

Jeb Bush’s donors are getting cold feet. The rumor is that he needs to be in the top 3 in Iowa and New Hampshire or else they are going elsewhere. The “elsewhere” is Rubio.

On Friday, the Atlanta Fed took down their estimate for Q4 GDP to 0.6%. Luckily they waited until after the close to drop that bomb.

10 Responses

  1. In meeting all day and I’m still Frist!

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    • Is criminally naive a thing?

      Like

    • if it doesn’t affect his poll numbers, obama doesn’t give a shit…

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    • McWing:

      Doesn’t this move the Obama administration into criminal negligence territory?

      I have a lot of friends overseas and they routinely approach the possibility of a President Trump with shock and dismay. “Can you imagine Trump as president? How embarrassing.”

      My response is always quite simple. “Apparently you haven’t been paying attention to the president we already have.”

      Like

  2. @novahockey: Just saw your announcement on PL. Congrats on the new job! Hope you’re making the truly big bucks now.

    Like

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