Brent Nyitray
Fairlington Blade
Let the mutherfuker burn!
jnc4p
Kevin S. Willis
Michigoose
lmsinca
markinaustin
Memetrics
novahockey
quarterback
ScottC
yellojktVital Statistics:
| Last | Change | |
| S&P futures | 2714 | -15.5 |
| Eurostoxx index | 363.36 | -2.16 |
| Oil (WTI) | 53.62 | -0.41 |
| 10 year government bond yield | 2.67% | |
| 30 year fixed rate mortgage | 4.43% |
Stocks are lower this morning on no real news. Bonds and MBS are flat.
Initial Jobless Claims increased to 234,000 last week.
When was the last time we saw a big bank merger, at least one that wasn’t a shotgun wedding organized by the government? BB&T and Suntrust are merging in a stock-for-stock merger of equals. BB&T is already a player in the national mortgage market, while Suntrust is still more of a super-regional commercial bank. Bank mergers had a moratorium in the aftermath of the financial crisis amidst worries about too big to fail. Despite those concerns, the US banking system is probably the least concentrated in the world – most other countries have a handful of giants that dominate the market. Note as well for the Glass-Steagall nostalgics: the US was the only country in the world that separated commercial and investment banking, or even drew a distinction between the two.
The BEA has announced they will combine the first and second estimates for GDP and release them on Feb 28. Of course this assumes the government will be open on the 28th, which is not a given.
Older baby boomers aging in place is supposedly making it tougher for younger Americans to break into homeownership. That is an interesting theory, however I think older boomers are primarily concentrated in the move-up and luxury markets, especially since in the years after the crisis, the homebuilders focused on the only sector that seemed to be working – luxury and urban. Starter home supply is probably more of a function of the REO-to-rental trade, which should probably start being unwound.
The House Financial Services Committee is going to hold a hearing on credit scoring: “Who’s Keeping Score? Holding Credit Bureaus Accountable and Repairing a Broken System.” Not sure what the hot-button issues are, but they probably concern data security, fixing false information, and potential disparate impact issues.
House Democrats are introducing a bill to require lenders who originate more than 25 mortgages per year to release detailed reports to the government regarding the demographic data and quality of these loans. House Republicans raised the limit to 500 loans last year in an attempt to ease the regulatory burden on smaller lenders.
Filed under: Economy, Morning Report |
All Things in Moderation 
anyone else call in unwilling to work today.
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what is today?
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https://www.cnbc.com/2019/02/07/ocasio-cortezs-green-new-deal-offers-economic-security-for-those-unwilling-to-work.html
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“unwilling to work” has got to be peak millennial.
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On second thought, a stern rebuke will suffice.
And don’t forget, DJT is a sexually assaulting racist. —Your friends from the Virginia House Democrats
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“This past week has been incredibly difficult for all Virginians”
No, not really.
“However, this is not a partisan problem, but a problem for all Virginians and all Americans”.
No, I’m pretty sure this is just a problem for the three individuals involved and the Virginia Democratic party as long as they continue to be affiliated with it.
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Pile on time:
https://www.washingtonpost.com/local/virginia-politics/second-woman-accuses-va-lt-gov-justin-fairfax-of-sexual-assault/2019/02/08/19e6bb6c-2bdf-11e9-b011-d8500644dc98_story.html
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just watch. the black guy is going to get hounded from office, but hte 2 white dudes will hold on. and then there will really be a shitstorm.
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Not really, cause if they go the a Republican gets in and holding on to power trumps everything. There won’t be a shitstorm.
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How did I miss this?
https://www.washingtonpost.com/amphtml/politics/after-new-document-is-revealed-warren-struggles-with-questions-of-identity/2019/02/06/bf380538-2a24-11e9-b011-d8500644dc98_story.html
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so much for white privilege
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I kinda can’t help but read that as an organized attack to neutralize Warren early. Clearly, there are lots of people (or at least a few powerful people) who don’t think she’s the one to beat Trump.
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which woman is getting the nom then? cause no male is getting the nomination,
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Harris
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“I kinda can’t help but read that as an organized attack to neutralize Warren early.”
No, it’s an opportunistic pile on because she was stupid enough to be baited by Trump into taking the DNA test in the first place.
This is self inflicted.
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Knock me over with a feather.
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