FDIC to sell $114B in MBS seized from failed regional banksÂ
The FDIC will sell a portfolio of $114 billion in MBS it retained after seizing control of shuttered Signature Bank and Silicon Valley Bank.
The FDIC will sell a portfolio of $114 billion in MBS it retained after seizing control of shuttered Signature Bank and Silicon Valley Bank.
If you’re between the ages of 18 and 25, chances are that you have a lot of questions about life. This is the age when we begin looking for fulfillment in what lies ahead, we’re trying to take our next steps with confidence. While navigating this critical stage of life can feel daunting, there are … Read more
Rates Rally Cautiously After ISM Services Data On the approach, today’s ISM Services PMI looked like the 2nd biggest report of the week. In practice, bonds only managed a modest rally in response. The measured response wasn’t for a lack of motivation in the data itself. It was very rate-friendly (lowest inflation component since mid-2020!). Rather, rates have been treated to two straight days of strong bullish cues (ISM Manufacturing/JOLTS) and may simply be losing their appetite for additional gains given the unknowns presented by Friday’s jobs report and next week’s CPI. Econ Data / Events ADP Employment 145k vs 200k f’cast, 261k prev ISM Non Manufacturing 51.2 vs 54.5 f’cast, 55.1 prev prices: 59.5 vs 65.6 prev employment: 51.3 vs 54.0 prev Market Movement Recap 08:19 AM Bonds rallying after ADP data. MBS up 3 ticks (.09), but probably closer to 6 ticks (.19) if trading was more liquid. 10yr down 3.4bps at 3.305. 10:29 AM More gains after ISM Services data. MBS up an eighth and 10yr yields down 4bps at 3.3%. Both were briefly even stronger 01:12 PM Holding moderate gains with 10yr down 5bps at 3.29 and MBS up 6 ticks (.19). 03:32 PM 10yr yields at the highest levels in several hours, but still down nearly 4bps on the day at 3.301. MBS up 3 ticks (.09) officially, but would likely be another 2-3 ticks higher with liquidity.
âRecessionâ can be a scary word, but economic contractions are fairly common throughout the history of the United States. In fact, theyâre perfectly normal parts of the overall business cycle, during which the economy expands, contracts, and then expands again. Itâs during certain contractions, which we usually refer to as recessions, that life can get […]
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Wealth advisors are a subset of the greater financial advisor world, and they typically (but not exclusively) help high-net worth individuals or families manage their assets, and plan for the future. Wealth advisors, or wealth management advisors, usually work with wealthy people or families with at least $1 million in liquid assets (i.e. not including […]
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Downbeat Data Puts Downward Pressure on Rates Mortgage News Daily
The bond market moved far less over the entire week than it did during a single day last week. Not only was volatility much lighter, but the trading patterns changed as well. At the onset of the recent panic in the banking sector, stocks and bonds shifted into risk aversion mode. Scary news pushed money … [Read more…]
Bonds Rally on Month-End Trading and Friendly Inflation Data Bonds began the day in unchanged territory and made cautious gains after reasonably friendly inflation data. PCE was a bigger factor than the Consumer Sentiment inflation expectations, but both contributed. Given our position on the calendar, we should also consider the impact of month/quarter-end positioning. It would help account for some of this week’s resilience in US bond markets relative to the suggestion of equities markets or EU bonds. Econ Data / Events Core PCE Inflation y/y 4.6 vs 4.7 f’cast, 4.7 prev Chicago PMI 43.8 vs 43.4 f’cast, 43.6 prev Consumer Sentiment 62.0 vs 63.2 f’cast, 63.4 prev 1yr inflation expectations 3.6 vs 3.8 prev 5yr inflation expectations 2.9 vs 2.8 prev Market Movement Recap 09:31 AM Roughly unchanged overnight. Moderately stronger after inflation data. 10yr down 3bps at 3.517. MBS up 2 ticks (.06). 01:10 PM Slow, steady gains all day. Some month-end bond buying is likely contributing. MBS up more than an eighth. 10yr down 4bps at 3.507 03:20 PM Additional gains before and after the 3pm CME close. 10yr down 6bps at 3.486. MBS up a quarter point.
CeFi and DeFi are two terms that have become increasingly popular in the world of finance and cryptocurrency. CeFi, or Centralized Finance, refers to crypto and blockchain companies that operate like traditional financial systems, meaning a private central authority controls them and users are customers. DeFi, or Decentralized Finance, on the other hand, is a […]
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