Lunchtime Links 12-28
Morgan Stanely sees 5.5% yield on 10-year (Biggadike/Kruger, Bloomberg) A continued flood of supply coupled with fewer buyers should drive rates higher. Mortgage rates vary closely with the 10-year. If the latter goes to 5.5%, MS notes that 30-year mortgages could get back to 7.5%-8.0%. House prices will suffer another steep decline if mortgage rates climb that much.
A master of disaster (Carter, Nation) You’ve probably not heard of John Dugan. As head of the OCC, he’s supposed to be regulating biggest banks. Instead, he’s been working hard as their advocate.
Adding fees and fences on media sites (Perez-Pena/Arango, NYT) Users want content to be free, but it can’t be produced for free.
VIDEO: Max Baucus, drunk on Senate floor? (Gavin, Politico)
Fargo reporter punk’d (TwitPic) Read the photo caption.
Worst driver on planet? (LiveLeak) This video actually captures a number of drivers on the same slippery street. But the first guy is a real doozy.
Paper plane enthusiast sets record (McCurry, Guardian)