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Warehouse lenders facing fallout from industry woes

Recent bond-rating reports shine a spotlight on the deposit and investment-portfolio shortcomings of two banks offering warehouse lines – Comerica and Western Alliance.

Simple, Boring, Half Point Sell-Off in MBS

Absence of Data Leaves Even More Focus on The Fed If there happened to be some significant economic data today, or on the next two mornings, financial markets might wait to see what it implied before diving head-first into the pastime of overanalyzing Fed rate hike odds.  With essentially no relevant data between now and then, the task at hand is clear: get in position for the Fed (if you’re not already) and react to any major developments in the banking sector.  Monday’s early trading suggests markets are actually right about where they want to be after a bit of overnight volatility surrounding the UBS takeover of Credit Suisse. Econ Data / Events No significant econ data Market Movement Recap 09:16 AM 10s are currently down 2.6bps at 3.412.  MBS are unchanged (5.0 coupons).  11:27 AM More legitimate weakness after an early bout of illiquidity.  MBD down 3/8ths with at least a quarter point of losses vs AM highs.  10yr yields are up 3.2bps at 3.47. 02:13 PM Weakest levels of the day with MBS down just over half a point and 10yr yields up 5.4bps at 3.492.  Stocks are up about 2/3rds of a percent.

The 60 [BEST] Budget Grocery List for Cheap Eating

Inside: Are you looking for ways to save money while eating nutritiously? This guide has a comprehensive list of affordable cheap food…

Read More… The 60 [BEST] Budget Grocery List for Cheap Eating

Lead Generation Strategies for Small Businesses and Startups

Here are 12 of the top lead generation strategies that can be utilized by all kinds of small businesses.

You Have Gone Zero Days Without a Systemic Contagion Flare-Up

You Have Gone Zero Days Without a Systemic Contagion Flare-Up As of Tuesday, the global financial market was able to say it had gone “2” days without a systemic banking contagion flare up.  But that number dropped to “0” in the overnight trading session as investors aggressively sold Credit Suisse stock.  Other EU banks were dragged down as well.  US investors sold stocks first and asked questions later.  Once those questions were asked, the move began to reverse, but not nearly enough to erase the day’s bond market gains.  Any time this “days without a flare up” sign has a “0” on it, bonds should be doing well.  If that number starts ticking higher, rates might feel like doing the same.  Econ Data / Events Retail Sales -0.4 vs -0.3 f’cast, +3.2 prev Core Y/Y Producer Price Index 4.4 vs 5.2 f’cast, 5.4 prev NY Fed Manufacturing -24.6 vs -8.0 f’cast, -5.8 prev Market Movement Recap 11:02 AM Sharply stronger overnight on Credit Suisse cliff diving.  Fed Funds Rate outlook leading the way so 2yr notes are down 44bps while 10s are “only” down 26bps to 3.42.  Remember 3.42?  MBS are lagging, which is to be expected amid another flight to safety.  5.5 coupons are up roughly 5/8ths with an eighth point margin of error due to illiquidity. 01:01 PM Rally continues.  10yr down almost 27 bps at 3.42.  MBS up 2/3rds of a point in 5.5 coupons.   02:38 PM Plenty of weakness since 1pm with additional selling now after Swiss regulators are said to release a statement soon on a Credit Suisse backstop.  MBS up only a quarter point on the day, down a half point from highs.  10yr yields still down 17bps at 3.517, but up more than 10bps from lows.  04:01 PM MBS gradually recovering since 2:30pm ET.  Back up by roughly half a point, or slightly more after adjusting for illiquidity.  10yr down 21.6 bps at 3.47.

How to Use the 50/20/30 Rule as Your Budgeting Plan

Learn how this budget plan works, how to put it into action, and if it’s the right fit for you.

Breaking Down the Big Move in Rates and Considering The Road Ahead

Breaking Down the Big Move in Rates and Considering The Road Ahead The 2nd and 3rd largest bank failures in history have happened over the past 3 days.  Markets reacted in a logical direction.  If anything, the drop in rates was made bigger by the fact that the market is searching for evidence that it’s time for the Fed to dial back its hawkish rate policies. That’s what today ended up being mostly about: the market betting on a MUCH lower rate hike profile in the coming months (and rate CUTS starting in a few short months).  Between Tuesday’s CPI data and next week’s Fed announcement we’ll have the data we need and the requisite amount of cooling-off time to have a much better sense of what the road ahead looks like.  Today’s video discusses several of the options, and much more. Econ Data / Events No significant econ data Market Movement Recap 08:59 AM Supermassive bond rally overnight, led by short-term rates.  2yr down more than 50bps at times.  10yr currently down 25bps at 3.45.  MBS up just over 3/4ths of a point. 12:36 PM Strongest levels of the day at 11am and selling off a bit since then.  5.5 coupons still up 3/4ths on the day, but down half a point from highs.  10yr yield up 11bps from lows and now near highs of day at 3.524, but still down 18bps overall.  04:07 PM MBS now up “only” 22 ticks (.69) and 10yr down “only” 16bps at 3.545.  Both are quite a bit weaker on the day, but the pace of losses has been gradual