| Last | Change | Percent | |
| S&P Futures | 2110.1 | 1.7 | 0.08% |
| Eurostoxx Index | 3624.2 | -25.3 | -0.69% |
| Oil (WTI) | 59.64 | 0.3 | 0.42% |
| LIBOR | 0.28 | 0.001 | 0.36% |
| US Dollar Index (DXY) | 95.07 | 0.275 | 0.29% |
| 10 Year Govt Bond Yield | 2.17% | 0.03% | |
| Current Coupon Ginnie Mae TBA | 102.4 | -0.2 | |
| Current Coupon Fannie Mae TBA | 101.3 | -0.1 | |
| BankRate 30 Year Fixed Rate Mortgage | 3.83 |
Stocks are flattish on no real news. Bonds and MBS are down.
The week after the jobs report is usually pretty data-light and this week is no exception. The highlights will be retail sales on Wednesday and industrial data on Friday.
Bonds will be vulnerable to shifts in the wind due to a few big deadlines in Greece this week. To put the Greek situation in perspective, over the past 3 weeks, the German 10 year yield has gone from 7.5 basis points in yield to 77 basis points in yield intraday last week. This is what has been pushing down Treasuries. Last week the 10 year briefly traded over 2.3% in yield.
The Fed may not pursue a path of steady consecutive 25 basis point increases in the Fed Funds rate when they start hiking rates. Interestingly, the article posits that the Fed wants to learn the lesson of the last hike cycle - in which they tightened too predictably, and which some believe caused the real estate bubble. If the Fed truly believes that rate hikes caused the real estate bubble, and everything was fine in the markets before then, it shows we have learned absolutely nothing from 2008.
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