Vital Statistics:
Last | Change | |
S&P futures | 2805 | -11 |
Eurostoxx index | 367.48 | 1.08 |
Oil (WTI) | 61.92 | 0.45 |
10 year government bond yield | 3.22% | |
30 year fixed rate mortgage | 4.96% |
Stocks are lower this morning on no real news. Bonds and MBS are flat.
The FOMC announcement will come out at 2:00 pm EST today. No changes in rates are expected, and it should be a nonevent. Don’t expect to see any discussion of the recent sell-off in the stock market. About the only thing that could be interesting would be any discussion of how to quickly to shrink the Fed’s balance sheet, which is sitting at $4.1 trillion in assets, down from a peak of $4.5 trillion. That is still much lower than pre-crisis levels of below $1 trillion.
Donald Trump indicated that he would entertain an increase in the corporate tax rate if it was used for middle class tax relief. Democrats have complained that the middle class didn’t get a big enough tax cut, and the wealthy / corporations got too big of one. Don’t expect Democrats to bite, however. They want more healthcare entitlement spending and to raise taxes. Republicans aren’t going to vote to raise taxes, period.
UBS said it will fight an expected Justice Department civil suit over mortgage backed securities from 2007. They say they weren’t a “significant originator” of these mortgages.
The Fannie Mae Home Purchase Sentiment Index dipped in October. Affordability concerns are having an effect, as are higher mortgage rates. Despite the recent strong jobs numbers, more people are beginning to have job security worries. This is even more surprising when you consider that the number of respondents who said the economy is on the right track is at a record high.
Filed under: Economy, Morning Report |
Yes, this is perfect:
“A 69-year-old man asks to be declared 49, claiming age is as fluid as gender”
https://www.washingtonpost.com/nation/2018/11/08/year-old-man-asks-be-declared-claiming-age-is-fluid-gender/?utm_term=.8596e8325188
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Inspired by Tony Robbins…
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Congrats Mark, you are in your twenties again.
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I’m going to be 22 indefinitely if we get to just pick.
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Everything can be declarative. If you can claim your gender is whatever you say it is, regardless of biological metrics, then age and race and national origin should all be just as fungible.
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They are all social constructs after all.
The Beatles were ahead of their time:
“I am the walrus
Goo goo g’joob”
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Should be updated. “I am a walrus”. Because any of us could have been born a walrus but incorrectly assigned the oppressive identity of homo sapiens at birth by the patriarchy.
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amazing that we are having this whole national conversation over something that affects a miniscule percentage of the population…
Victimhood is a helluva drug
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Well, I don’t know about that. Not wanting to be old impacts us all.
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I was referring to gender and how trans rights have captured all of the political oxygen…
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I know. But hey, no limiting principle here.
I did like the argument that by not allowing him to change his age, the court would be condoning age discrimination by online dating sites like Tinder.
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Not wanting to be old impacts us all.
Exactly! Why should being in the majority exclude us from access to identity fluidity? I don’t think it should.
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Have you seen the internet meme where the large Ford 250 truck has the bumper sticker:
“I identify as a Prius”
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Worth a read:
As long as Trump is president, everyone is a Clarence Thomas citing strict construction originalist.
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Are they taking it to court? The article didn’t say.
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Did Trump say he was just going to skip the senate confirmation, or what? I’m not exactly sure how it was established that he was going around the senate with this. Or is the idea because he’s an “Acting” AG it’s different than a permanent AG, so . . . ? If that’s the case, has there ever been an acting AG before? Googled it but all I’m seeing is Whitaker.
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He’s going to defer it.
“If that’s the case, has there ever been an acting AG before”
There has been, but they’ve all been Senate confirmed subordinates in the DoJ itself.
Here’s a good take on it. See the second objection.
https://www.lawfareblog.com/matthew-whitakers-appointment-acting-attorney-general-three-lingering-questions
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Thanks!
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There’s something seriously wrong with these people.
https://twitter.com/owillis/status/1060543081114673153
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I don’t watch Tucker Carlson, so I obviously missed the show where he advocated for the liquidation and death of nonwhite people in America. Also, didn’t realize he was pushing for white supremacy.
No doubt he does it all in super-secret code-words and dog whistles. Those clever white supremacists!
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Last night’s show he just repeated the words “Kill all the darkies” over and over again for an hour.
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Well, I guess that explains Matthew Yglesias’s take on the situation then!
https://dailycaller.com/2018/11/08/matthew-yglesias-tucker-carlson-wife/
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these people have no grasp of reality or proportion…
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Just curious, does the caravan still exist or did it disband with the election?
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It’s still moving forward, but I think it’s reducing in size as people peel off.
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I’ll bet it doesn’t exist by Monday. Just an election stunt
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This perfectly captures Trump v Acosta
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Acosta’s narcissism and self-regard seem to mirror Trump’s very well. No wonder they can’t get along.
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They fantasize they are the only thing standing between Literally. Hitler. and Kristallnacht II
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Standing between? They are REPORTING ON IT!!
When they get into their Hitler comparisons, they are so excited to be a part of history, to have their Woodward and Bernstien moment, to have their own Vietnam to “transform America” they can barely contain themselves.
Like ghost hunters finding every sound or breath of wind to be evidence of the ghosts they so want to find, they are convinced Trump is Literally Hitler because they want it so bad.
For them, only a 3rd term of Obama would have been better. Eh, maybe Hillary.
But they are loving this.
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Although am I missing something? It looks like Acosta doesn’t want the attention to move from him, so is holding on the the mic, but the whole “putting his hands on a young woman” seems like a huge stretch.
I get it. Trump Whitehouse is all about crafting a narrative independent of facts. But I wish Trump would revoke his press credentials based on him being a hostile, self-aggrandizing weenie who takes himself far too seriously, than “putting his hands on a young woman”. He didn’t even seem to realize anything had happened, he didn’t even seem to be pushing her away, to me.
… at the same time, fact-free accusations where there is clear contradictory evidence are exactly what the left engages in, all the time, so . . . I mean, eventually those chickens were always going to come home to roost, I’d think.
Plus, Acosta was being a douche, but he wasn’t manhandling the intern.
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