Vital Statistics:
Last | Change | |
S&P Futures | 2576.3 | 0.0 |
Eurostoxx Index | 385.1 | 1.3 |
Oil (WTI) | 56.3 | -0.3 |
US dollar index | 87.2 | 0.1 |
10 Year Govt Bond Yield | 2.34% | |
Current Coupon Fannie Mae TBA | 102.651 | |
Current Coupon Ginnie Mae TBA | 103.494 | |
30 Year Fixed Rate Mortgage | 3.9 |
Stocks are flat this morning on no real news. Bonds and MBS are flat as well.
Slow news day.
This week should be relatively quiet with the Thanksgiving holiday. There won’t be any market-moving economic releases, and the only thing out of the Fed will be the minutes from the November meeting on Wednesday.
The Index of Leading Economic Indicators came in at 1.2%, doubling the Street estimate of 0.6%.
Goldman is extremely bullish on 2018, as they see the job market getting even tighter and wage growth accelerating. They see the unemployment rate falling to 3.7% in 2018, and to 3.5% in 2019. They are forecasting 4 rate hikes as well, which is well above what the Fed Funds futures are predicting. The Fed Funds futures are pricing in between 1 and 2 hikes in 2018 (assuming that December is a given).
More than half the refis in October were FHA / VA loans. This is due as much to home price appreciation as interest rates. Borrowers can save money by refinancing into a conventional loan once they have 20% equity. Loan officers, take a look at the FHA loans you did a few years ago and look for opportunities.
Tax reform is scheduled for an 11/30 vote in the Senate, as Congress takes this week off. The upper middle class is probably going to benefit the least from tax reform, and Republicans are going to test the theory that they are indeed the third rail in US politics. The upper middle class consists of what demographers call the HENRYs (high income, not rich yet), who may appear to be rich according to the numbers, but often live in high cost areas and have lifestyles more similar to the middle class than the rich. We could see home price appreciation begin to moderate in some of the suburbs around DC and NYC. It probably won’t affect California as much, as the CA real estate market inhabits its own universe.
Filed under: Economy, Morning Report |
The left finally comes out and says it: We need to end capitalism to save the planet
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i guess we finally get to slice that watermelon and see that the greens are red on the inside.
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The funny thing is that the electric car is simply a better mousetrap and will do more to save the planet than an army of government bureaucrats thinks it will.
The author of the piece should fly down to Venezuela for a swim in Lake Mariacabo….
https://news.mongabay.com/2016/05/lake-maracaibo-oil-development-disaster-area-dying-neglect/
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It bewilders me that blind partisans and ideologues really seem to believe they are objective and fact-based,and that their insane, life-wrecking policies are genuinely good ideas and, not only that, the only possible option.
People are strange. I see how Trump got elected.
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I’ve heard this previously. Good luck to them.
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The left is struggling with Franken victim #3.
https://www.dailykos.com/stories/2017/11/20/1717216/-Accuser-2-steps-forward-for-Al-Franken
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PL too.
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Are there “Grope Trutherz”? Claiming to see a shadow below his hands?
Bush flew to Paris in the cargo hold of an SR-71 Goddamnit!
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Like a little hand shadow would get him off the hook if it was Ted Cruz or Paul Ryan.
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Could just be beginning. In terms of Democratic politicians, as well as Hollywood types.
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Al Franken just breathed a sigh of relief, as the list continues to grow.
https://www.hollywoodreporter.com/news/charlie-rose-accused-sexual-harassment-by-eight-women-1060441
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Who among us hasn’t listened to a Trump speech and then committed Helter Skelter?
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That’s the objective media. Being all objective and stuff.
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Not only are these mouth-breathing, uneducated racist yahoos idiots, they are like members of a cult…
Way to sell your ideology, guys…
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Apple “Diversity officer” loses her job for pointing out that even people with the same skin color have diverse experiences.
http://canadafreepress.com/article/apple-diversity-chief-thrown-overboard-for-advocating-diversity#When:14:22:00Z
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Diversity to the left means a bunch of people who look different but think exactly the same…
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i’m very diverse where it matters the most: i have stocks, bonds, cash, etc.
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For McWing’s collection of hawt blue on blue action. Awesome download of feminist rage on SNL writers for defending Franken.
https://twitchy.com/gregp-3534/2017/11/21/lena-dunham-part-ii-women-of-snl-torched-over-letter-defending-accused-groper-al-franken/
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So. Rich white guys fired a black woman for saying diversity was about more than skin color. Ironic!
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