| Last | Change | Percent | |
| S&P Futures | 1909.9 | 4.7 | 0.25% |
| Eurostoxx Index | 3015.6 | 2.8 | 0.09% |
| Oil (WTI) | 97.53 | 0.2 | 0.20% |
| LIBOR | 0.234 | -0.003 | -1.22% |
| US Dollar Index (DXY) | 81.42 | -0.100 | -0.12% |
| 10 Year Govt Bond Yield | 2.39% | -0.02% | |
| Current Coupon Ginnie Mae TBA | 106.5 | 0.0 | |
| Current Coupon Fannie Mae TBA | 105.9 | 0.1 | |
| BankRate 30 Year Fixed Rate Mortgage | 4.24 |
Markets are higher this morning on no real news. Bonds and MBS are higher on international tensions. The 10 year bond yield is sporting a 2.3 handle this am.
Nonfarm Productivity rebounded to +2.5% in the second quarter. The first quarter was revised downward to - 4.5%. Unit Labor Costs rose .6%, while the prior quarter was revised upward from +5.7% to + 11.8%. BLS attributes the increase in costs to the downward revision in productivity and and a big upward revision in compensation from .4% to 4.8%. Not sure why BLS's initial numbers were so far off.
Gutsy call on the bond market: Komal Sri-Kumar is predicting the 10 year will be trading with a 1 handle in six months. He thinks international tensions will be a drag on consumer confidence and he even suggests the Fed could re-start QE in 2015.
FWIW, economists are predicting 2.9% GDP growth in Q3 and 2.6% growth in Q4.
Wholesale sales and Wholesale inventories both came in lower than expected.
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