Bond Yield: Up to 3.40% @ 9:16 am

Some interesting reporting on the impact of Wall Street oil speculation on the wallets of Main Street:

One year later, one of the key excesses that led our consumer-based economy into an historic downturn is being abused in the exact same way that got us $147-a-barrel oil last summer. Worse, many in the media are again getting the facts wrong on oil prices and demand—as if the ~~explosion of 2005-2008 never happened—as one look at last week’s oil report will verify.

 

SF Chronicle article suggests that “short sales” are becoming somewhat less arduous to get closed:

But now real estate professionals and banks say the logjam is starting to ease, with decisions coming more quickly, more short sales trading hands, and the prospect of a new Treasury plan that will further lubricate the process.