| Last | Change | Percent | |
| S&P Futures | 1405.6 | -2.7 | -0.19% |
| Eurostoxx Index | 2436.4 | -25.4 | -1.03% |
| Oil (WTI) | 96.04 | 0.6 | 0.60% |
| LIBOR | 0.423 | -0.002 | -0.49% |
| US Dollar Index (DXY) | 81.46 | -0.196 | -0.24% |
| 10 Year Govt Bond Yield | 1.64% | -0.02% | |
| RPX Composite Real Estate Index | 192.3 | 0.2 |
Markets are flattish-to-down as a positive Case-Schiller reading offsets disappointing economic data out of Japan and Span. Bonds and MBS are up slightly.
The S&P / Case-Schiller index came in at 142.2 vs expectations of 141.3. The national composite was up 1.2% YOY and up 6.9% vs Q1.
The real estate market is recovering, but where are home prices still getting hit? Fairfield County, CT, where prices have declined 13% YOY, especially in Greenwich and New Canaan. This of course is due to Wall Street compensation dropping like a stone over the past 5 years and the realization that it may be a while before it comes back. As the article points out, while the events in Europe are an abstraction to most people, they do affect jobs in the financial services industry. Given the fact that entitlement spending is going to crowd out a lot of discretionary spending (especially on defense), it makes me wonder if one of the last high-flying real estate markets - Washington DC - is next.
The WSJ has a fluff piece on Paul Singer, who has been raising a lot of money for Mitt Romney. It repeats the rumor that he might be given a place in a potential Romney administration. However, he originally backed Chris Christie and has been very vocal in pushing for gay marriage so that could be an issue.
Chart: S&P / Case-Schiller House Price Index:
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