Bad News Once More Enjoys Miniscule Half Life

This morning the monthly Case-Shiller housing price index dipped again (7th month in a row), with just about every major city seeing a drop in prices.  The one major exception was Washington D.C. which has become a micro economy unto itself with the massive federal government spending boom.  If only every major city in the country could benefit from the perks of what D.C. enjoys - we'd be scoffing at any mention of weakness on Main Street.  [Feb 3, 2011: Washington D.C. Leads Nation's Major Cities in Job Growth in 2010]  [Mar 11, 2010: [Video] America's 3 Wealthiest Counties Now Ring Washington D.C.] 

Consumer confidence also fell, as inflation expectations rose (gas prices of course weighing on the psyche) - but once those 2 reports were out of the way and the market sold off for 30 minutes, off to the races we went.  Bad news is back to having a half life of minutes once more.

Other than that it is pretty quiet out there... in fact you know it's quiet when the Fast Money crew brings on Rick Santelli for a segment called 'fast money in bonds'.