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Friday, February 14, 2014

Morning Report - blame the weather

Vital Statistics:

Last Change Percent
S&P Futures  1828.2 3.9 0.21%
Eurostoxx Index 3114.2 16.3 0.53%
Oil (WTI) 99.73 -0.6 -0.62%
LIBOR 0.236 0.000 0.00%
US Dollar Index (DXY) 80.2 -0.124 -0.15%
10 Year Govt Bond Yield 2.74% 0.01%  
Current Coupon Ginnie Mae TBA 106 -0.2
Current Coupon Fannie Mae TBA 104.3 -0.1
RPX Composite Real Estate Index 200.7 -0.2
BankRate 30 Year Fixed Rate Mortgage 4.27

Markets are higher in spite of some disappointing manufacturing data this morning. Bonds and MBS are flat. We are headed into a 3 day weekend, so volumes should be somewhat light.

Industrial Production and Manufacturing Production came in well below estimates, and capacity utilization dropped by 80 bps, a huge amount. Weather seems to have been the culprit so that is why the market is shrugging off the numbers.

Consumer confidence came in unch'd for February.

The spring selling season is off to a slow start, according to Redfin. FWIW, the homebuilders are reporting exactly the opposite.

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