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mortgage bonds

Tantrums and Tapers, TBA’s and Mortgage Rates

By |2019-01-22T16:14:51-05:00January 22nd, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

To be an interested observer of things in the summer of 2013 was to be awash in the awareness of so many contradictions packed into one little piece of history. Forward guidance, for one, recognized the effects of markets. If QE was really effective, interest rates would rise not fall in anticipation of those positive effects. This was, actually, the [...]

Still Talking Collateral And Implying Shortage

By |2016-08-30T18:54:39-04:00August 30th, 2016|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Repo fails in the past two weeks (the week of August 17 the most current figures) were both more than $192 billion. Though that level is highly elevated, those were actually the fewest fails since mid-June, and the fewest in consecutive weeks since early May. The 8-week average remains about $245 billion, a noticeable increase from even last year’s “dollar” [...]

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