| Last | Change | Percent | |
| S&P Futures | 1414.9 | 5.7 | 0.40% |
| Eurostoxx Index | 2622.9 | -7.6 | -0.29% |
| Oil (WTI) | 86.67 | -0.1 | -0.07% |
| LIBOR | 0.309 | 0.001 | 0.32% |
| US Dollar Index (DXY) | 79.58 | -0.001 | 0.00% |
| 10 Year Govt Bond Yield | 1.72% | 0.02% | |
| RPX Composite Real Estate Index | 191.6 | 0.4 |
Markets are higher this morning after Japan elected Shinzo Abe, who has advocated further fiscal and monetary stimulus. The Empire Manufacturing Survey showed manufacturing in NY state contracted more than expected. Bonds are down and MBS are down small.
The negotiations on the fiscal cliff continue. The President has tied any discussions on entitlement cuts to increasing taxes on the rich and an increase in the debt ceiling. Boehner has proposed a millionaire's surtax and an increase in the debt ceiling. Of course, Boehner can strike a deal with the President, but that doesn't mean he can deliver the votes in the House.
Barry Ritholz has MBIA's presentation on Countrywide's fraud.
Samuelson discusses the Fed's targeting of both unemployment and inflation and lays out some of the unintended consequences.
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