| Last | Change | Percent | |
| S&P Futures | 2069.3 | 16.2 | 0.79% |
| Eurostoxx Index | 3439.4 | 86.3 | 2.57% |
| Oil (WTI) | 45.22 | -0.2 | -0.35% |
| LIBOR | 0.316 | -0.004 | -1.25% |
| US Dollar Index (DXY) | 96.71 | 0.335 | 0.35% |
| 10 Year Govt Bond Yield | 2.09% | 0.06% | |
| Current Coupon Ginnie Mae TBA | 105 | ||
| Current Coupon Fannie Mae TBA | 104.5 | ||
| BankRate 30 Year Fixed Rate Mortgage | 3.78 |
Stocks are higher this morning after China cut interest rates. Bonds and MBS are down.
Definitely a risk-on feel to the markets after yesterday's torrid rally. China's easing and yesterday's comments from the ECB regarding further QE are putting green on the screen. All of this stimulus is going to make it harder for the Fed to raise rates. Economists are beginning to warn of a global recession.
China's official growth rate is just shy of the government's 7% goal. Nobody actually believes that number however - estimates by foreign economists are closer to 3%.
The Markit US Manufacturing PMI rose in October.
The House Financial Services Committee spent some time yesterday looking at the future of HUD. The hearing looked at how HUD could help people escape poverty instead of simply pushing people to build more affordable housing. HUD has been very aggressive in suing local communities to change their zoning laws.
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