Bonds

Housing muni market swells amid affordability policy debate

Financing affordable housing development – typically for lower-income households – is one of the most challenging matters in real estate. Making the economics work on a deal requires layered “hard and soft” funding sources as developers navigate rising costs, policy instability, and structural gaps in the subsidy system. The process is so complicated that professionals […]

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Why 2025 might be the year of the mortgage ETF

The pairing of exchange-traded funds to residential mortgage-backed securities is no new concept, but 2025 looks like it is turning into a renaissance year for RMBS ETFs, based on recent trends.  Since November 2024, the bond market has seen at least four new issuances from investment banks, including the likes of JPMorganChase, Charles Schwab, Regan

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Bond traders step up Fed hedges as shutdown clouds outlook

The data void created by the US government shutdown is pushing bond traders to hedge against the risk that the Federal Reserve pauses at one of its two remaining meetings this year, or potentially delivers more policy easing than the market anticipates. Interest-rate swaps have been steadily pricing in roughly a quarter-point rate cut in both October

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Bond traders scrap bets on July rate cut after strong jobs data

Bond traders scrap bets on July rate cut after strong jobs data

A worker operates a forklift at a fulfillment center in Elizabeth, New Jersey.Eilon Paz/Bloomberg Shorter-term Treasuries, which are most sensitive to expectations for Fed policy, led the slump. Two-year yields rose almost 10 basis points, while 10-year rates jumped 6 basis points to 4.34%. The dollar advanced versus its major counterparts. “The Fed will take

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The mortgage market hopes for rate cuts amid war moves

Global tensions between the United States and Iran have led many in the mortgage industry to wonder whether the bombing of Iran nuclear sites would move bond yields and lead to a drop in mortgage rates. On Monday, just as economists were factoring in the possibility of war with Iran, at least one member of

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