| Last | Change | Percent | |
| S&P Futures | 1466.5 | -0.7 | -0.05% |
| Eurostoxx Index | 2720.1 | 2.3 | 0.08% |
| Oil (WTI) | 93.97 | 0.4 | 0.44% |
| LIBOR | 0.304 | 0.000 | 0.00% |
| US Dollar Index (DXY) | 79.6 | 0.041 | 0.05% |
| 10 Year Govt Bond Yield | 1.84% | -0.02% | |
| RPX Composite Real Estate Index | 191.9 | 0.4 |
Markets are down small after disappointing iPhone data out of Apple. There is no economic data this morning, although the Bernank speaks at the University of Michigan after the close. This week will be heavy with bank earnings, with US Bancorp, JP Morgan, Goldman, Bank of America all reporting 4Q / full year. Wed and Thurs are the most interesting economically, with Housing starts and Capacity utilization / Industrial Production. Bonds are up 1/2 a point while MBS are up small.
David Blitzer of S&P discusses the outlook for housing in 2013. He thinks (a) housing is going to be an outsized contributor to GDP next year and (b) shadow inventory fears are overblown.
Different industry groups weigh in on the QM from the CFPB:
- The MBA notes that cap on points is moronic when you are comparing different note rates
- The Center for Responsible Lending complains that prime mortgages are protected under QM
- The National Association of Federal Credit unions loves the special dispensation for them
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