| Last | Change | Percent | |
| S&P Futures | 2030.9 | -7 | -0.32% |
| Eurostoxx Index | 3117.0 | -42.1 | -1.33% |
| Oil (WTI) | 58.48 | -1.5 | -2.45% |
| LIBOR | 0.24 | 0.001 | 0.44% |
| US Dollar Index (DXY) | 88.27 | -0.395 | -0.45% |
| 10 Year Govt Bond Yield | 2.12% | -0.04% | |
| Current Coupon Ginnie Mae TBA | 105 | 0.1 | |
| Current Coupon Fannie Mae TBA | 104.2 | 0.1 | |
| BankRate 30 Year Fixed Rate Mortgage | 4 |
Markets are lower this morning as oil continues to fall. Bonds and MBS are up, with the 10 year hitting lows not seen since June of 2013.
Lower energy prices means that inflation at the wholesale level is pretty much non-existent. The producer price index fell .2% in November. Ex food and energy, it was flat.
Declining gas prices pushed the University of Michigan Consumer Confidence level to 93.8 from 88.8 last month. We appear to be back to normalcy.
The left is still up in arms over the language in the CROmnibus (continuing resolution + omnibus spending bill) that allows banks to trade derivatives in their FDIC insured entity. I haven't seen the specific language, but I think it allows the banks to use derivatives for hedging purposes. But there is so much posturing going on here that it is hard to tell exactly what it does. The spending bill did make it through the House, and it looks like a done deal in the Senate.
Net Worth fell by $140 billion in the third quarter, according to the Federal Reserve. Real estate was the bright spot of the report as it rose $167.8 billion.
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