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 | 4,171 | 33.5 |
| Oil (WTI) | 82.32 | 0.85 |
| 10 year government bond yield | 3.37% | |
| 30 year fixed rate mortgage | 6.39% |
Stocks are higher after the consumer price index came in lower than expectations. Bonds and MBS are up.
Prices at the consumer level rose 0.1% MOM and 5.0% YOY. Shelter was the big driver, as food and energy prices both fell. If you strip out food and energy, the core rate rose 0.4% MOM and 5.6% YOY. It looks like the spike we saw in January and February is over.
Chicago Fed president Austan Goolsbee made dovish comments yesterday, urging the Fed to use caution on further rate hikes. His point is that the banking crisis will restrict credit which will act as further tightening. The Fed meeting is May 2-3, so we will get one more PCE reading before the meeting. But other data points – ISM, NFIB, etc are showing price pressures are declining.
The Fed Funds futures have trimmed their expectations for the May meeting slightly, but are still tilted towards a final 25 basis point hike in the Fed Funds rate.
Mortgage applications increased 5.3% last week as purchases rose 8% and refis rose 0.1%. Refis are down 57% from a year ago. “Incoming data last week showed that the job market is beginning to slow, which led to the 30-year fixed rate decreasing to 6.30 percent – the lowest level in two months,” said Mike Fratantoni, MBA’s SVP and Chief Economist. “Prospective homebuyers this year have been quite sensitive to any drop in mortgage rates, and that played out last week with purchase applications increasing by 8 percent. Refinance application volume was a mixed bag with total volume essentially flat, conventional volume down for the week, but VA refinance volume increasing. The level of refinance activity remains almost 60 percent below last year, as most homeowners are currently locked in at much lower rates.”
Mortgage Credit Availability increased in March, according to the MBA. “Mortgage credit supply increased modestly in March but remained close to its tightest levels since 2013. With the spring buying season underway, lenders are grappling with the threat of a recession and tighter overall financial conditions following the recent bank failures,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “The supply of government mortgage credit – which includes FHA and VA loans that many first-time homebuyers rely on – declined for the third time in four months, which could potentially hinder first-time buyer activity. There was a small increase in credit availability for jumbo loans, with more programs offered for cash-out refinances. However, we expect banks, which account for most of the jumbo market, will tighten jumbo credit criteria in response to recent challenges in the banking sector.”
Filed under: Economy |
All Things in Moderation 
Fucking Trump!!
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I thought you were just being sassy at first, but sure enough one of the replies: “Every trump appointee in the government needs to be fired.”
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Well this guy is screwed.
https://www.washingtonpost.com/national-security/2023/04/12/discord-leaked-documents/
The Post should get a commendation from the FBI for doing the leg work for them.
This is interesting:
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That kid being interviewed is full of a lot of wrong-think, he needs to spend time in the camps.
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Here is the Koskidz post on the WAPO story you linked to.
https://www.dailykos.com/stories/2023/4/13/2163683/-Ukraine-Update-The-Washington-Post-article-on-the-leaker-may-be-the-single-worst-article-I-ve-read
One interesting piece,
In a video seen by The Post, the man who the member said is OG stands at a shooting range, wearing safety glasses and ear coverings and holding a large rifle. He yells a series of racial and antisemitic slurs into the camera, then fires several rounds at a target.
What was actually said? If he said, for example, “Goddamn, the border doesn’t exist anymore and we’re being invaded by illegal aliens. And don’t get me started on Fuckin’s Soros funded DA’s, turning our cities into free fire zones!” Would normal people think that’s racist and antiemetic? To me it’s telling that the WAPO won’t specifically say it. If he was using racial pejoratives like “N*gger” or “beaner” or “Kike” then yes, that’s definitively racial and anti-Semitic. I don’t think for a minute that WAPO would hesitate to print that if he’d actually said it.
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This comment made me laugh out loud,
lizby
jqjacobs
Apr 13, 2023 at 11:46:28 AM
How in the world does a 21-year-old have this kind of access? Why in the world does the Massachusetts Air National Guard have access to these documents?
We may sometimes laugh at Russian incompetence and its operational consequences, but this takes the cake. Let’s just hope that there aren’t adverse operational consequences for Ukraine in this leak.
shrshr
raboof
Apr 13, 2023 at 11:39:53 AM
And yet it still does not dawn on the commenter that the only secrets that exist are what’s held from the American public. Good intelligence only lasts for a short time period, either it’s acted upon, in which case it’s figured out in short order or it isn’t, in which case it’s shortly useless as THINGS CHANGE.
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Also, the left sure isn’t treating the leaker like they treat Reality Winner. Why is that?
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The latest:
https://www.washingtonpost.com/national-security/2023/04/13/suspect-pentagon-documents-leak/
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WSJ of course quotes people blaming he Russians.
https://www.wsj.com/articles/leak-documents-likely-came-from-air-national-guardsman-at-fort-bragg-official-says-dbf48c0a?mod=djemalertNEWS
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Gotta love the picture with the article:
“Country star Brad Paisley performs in front of destroyed Russian military equipment in Kyiv, April 12, 2023.”
Peak 2023.
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That was a head scratcher, to be honest.
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