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Friday, January 3, 2014

Morning Report - Disappointing vehicle sales

Vital Statistics:

S&P Futures  1830.5 3.9 0.21%
Eurostoxx Index 3074.7 14.8 0.48%
Oil (WTI) 95.11 -0.3 -0.35%
LIBOR 0.24 -0.003 -1.24%
US Dollar Index (DXY) 80.72 0.089 0.11%
10 Year Govt Bond Yield 3.00% 0.01%  
Current Coupon Ginnie Mae TBA 103.8 -0.2
Current Coupon Fannie Mae TBA 102.9 -0.1
RPX Composite Real Estate Index 200.7 -0.2
BankRate 30 Year Fixed Rate Mortgage 4.55

Markets are higher this morning on no real news. Bonds and MBS are flattish. A snowstorm in the Northeast has many traders at home, so I don't expect a lot of movement today. The Bernank speaks at 2:30 EST. Can't imagine he is going to steal any of Janet's thunder, but you never know.

It is looking like December domestic vehicle sales are not coming in as strong as hoped. Many analysts attributed the disappointment to bad weather. 

The ISM New York index of business conditions fell, but is still at the high end of its range. It looks like most retailers deferred releasing comp store sales to next Thursday, so that will be an important data point for the state of the consumer.




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