| Last | Change | Percent | |
| S&P Futures | 2069.2 | -3.4 | -0.16% |
| Eurostoxx Index | 3261.1 | 13.4 | 0.41% |
| Oil (WTI) | 67.01 | -0.4 | -0.55% |
| LIBOR | 0.235 | 0.000 | 0.00% |
| US Dollar Index (DXY) | 88.8 | -0.159 | -0.18% |
| 10 Year Govt Bond Yield | 2.26% | -0.02% | |
| Current Coupon Ginnie Mae TBA | 104.6 | -0.1 | |
| Current Coupon Fannie Mae TBA | 103.9 | 0.1 | |
| BankRate 30 Year Fixed Rate Mortgage | 3.94 |
Markets are lower as ECB President Mario Draghi addresses further action the ECB might take to boost growth. Bonds and MBS are flat.
It looks like Mario Draghi is kicking the QE can down the road a little more, and will address further stimulus measures in the first quarter. The Euro is rallying.
Initial Jobless Claims came in at 297k during the holiday shortened week. Announced job cuts fell 21% in November, according to outplacement firm Challenger, Gray and Christmas.
The ISM Non-Manufacturing Index rose to 59.9% in November as business activity and new orders surged. The employment index decreased however.
Completed Foreclosures fell to 41,000 in October, according to CoreLogic. This is a 26.4% decline from a year ago, and a 34% drop from September. The 12 month sum of foreclosures is at its lowest point since October 2000. Approximately 605,000 homes are in some stage of foreclosure compared to 875,000 a year ago. This represents about 1.6% of all homes with a mortgage. Unsurprisingly, the judicial states contain the highest inventory, with New Jersey at 5.5%, and New York and Florida at 4.1%.
The latest Beige Book shows that conditions improved overall during the months of October and November. The only disappointing news was that wage inflation remains "subdued." Separately, Obama met with the Business Roundtable yesterday to push for wage increases. The Administration is also pushing for businesses to consider hiring the long-term unemployed. This is pretty much going to be an "either / or" type of situation.
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