| Last | Change | Percent | |
| S&P Futures | 1331.8 | 2.6 | 0.20% |
| Eurostoxx Index | 2234.7 | 6.7 | 0.30% |
| Oil (WTI) | 86.72 | 0.6 | 0.74% |
| LIBOR | 0.455 | 0.000 | 0.00% |
| US Dollar Index (DXY) | 83.66 | -0.002 | 0.00% |
| 10 Year Govt Bond Yield | 1.48% | 0.01% | |
| RPX Composite Real Estate Index | 183.8 | 0.2 |
Happy Friday the 13th. Markets are slightly higher this morning on no real news. The Producer Price Index showed inflation is being contained. Bonds and MBS are down slightly.
JP Morgan and Wells Fargo announced earnings this morning. JPM is going to restate Q1 earnings, and is laying the groundwork for claiming the huge prop loss was a rogue trader problem. Good luck with that one, Jamie. Wells announced a settlement with the regulators over redlining and announced it is exiting the wholesale mortgage business. Last one out, please shut off the lights.
Rep. David Schweikert weighs in on San Bernardino's Eminent Domain proposal. He makes the point that whatever intrepid capital has waded back into the mortgage market will probably flee if the government starts seizing underwater mortgages. No kidding. I am surprised President Obama has not seized upon this opportunity to establish his capitalist bona-fides. It could be his "Sister Soulja" moment.
Documents suggest that Tim Geithner was aware of the LIBOR-rigging scandal in 2007 and tried to do something about it.
CoreLogic reported that 11.4 million homes were in negative equity in Q1, down from 12.1 million in Q411. Negative Equity and near-negative equity (< 5%) accounted for 29% of all residential properties with a mortgage.
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