| Last | Change | Percent | |
| S&P Futures | 1433.4 | 5.0 | 0.35% |
| Eurostoxx Index | 2492.4 | 5.3 | 0.21% |
| Oil (WTI) | 92.14 | 0.1 | 0.08% |
| LIBOR | 0.334 | -0.006 | -1.76% |
| US Dollar Index (DXY) | 79.61 | -0.161 | -0.20% |
| 10 Year Govt Bond Yield | 1.68% | 0.01% | |
| RPX Composite Real Estate Index | 194.4 | 0.1 |
Stocks are higher this morning after positive earnings out of JP Morgan and Wells Fargo. Mortgage banking drove revenues and profits. The Producer Price Index came in higher than expected, although it was lower ex-food and energy. Bonds and MBS are flattish.
Was the debate last night market moving? Of course not. Best headline to sum it up: GOP and Dems agree: Our guy won.
It turns out yesterday's unexpectedly large drops in unemployment claims was due to a large state mistakenly reporting its claims.
Frank Blake of the Home Despot sees a full blown housing recovery as a year or two away. He points to customer attitudes - do homeowners consider a home improvement as an investment to be recouped when the house is sold, or simply an expense. I would agree - considering a granite countertop an "investment" is definitely bull-market thinking.
What is the role of the CFPB? It was sold as an agency dedicated to more transparency and ensuring consumers are fully informed when making financial decisions. But to the people that work there, the mission is to force financial service providers to give consumers a better deal. The Mortgage Bankers Association warns of unintended consequences.
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