The partial US government shutdown is on track to end later Tuesday after the House passed a funding deal President Donald Trump negotiated with Senate Democrats, overcoming opposition from both ends of the political spectrum. Processing Content The spending package, which Trump has said he wants enacted quickly, now goes to the president for his […]
Shutdown on track to end as House approves Trump funding deal Read More »
The January jobs report published by the U.S. Bureau of Labor Statistics (BLS) will not be released as scheduled on Friday due to the partial federal government shutdown that began Saturday. The report will be issued once funding resumes. The shutdown was triggered after Congress failed to pass funding bills that include money for the
BLS jobs report for January delayed by partial government shutdown Read More »
A partial government shutdown that began over the weekend remained in effect Monday, as the House had yet to act on a Senate-passed compromise bill that includes mortgage-related funding. Processing Content The departments of Housing and Urban Development and Treasury among the agencies affected. So too is the National Flood Insurance Program. “Most HUD staff
Partial shutdown hits HUD, FHA and flood insurance programs Read More »
Treasuries sustained small losses as the longest government shutdown on record ended and expectations for another Federal Reserve interest-rate cut next month eroded further. Yields were higher by as much as three basis points, led by tenors more sensitive to changes in Fed policy. The odds of a December rate cut assigned by the market have slipped
Treasuries stumble as shutdown ends and traders brace for swings Read More »
As the government shutdown comes to an end, two congressmen introduced legislation to retroactively restore the National Flood Insurance Program. Reps. Troy Carter, D-La., and Mike Ezell, R-Miss., introduced the Retroactive Renewal and Reauthorization Act to the House Monday, with hopes to backdate the reauthorization of the insurance program to Sept. 30, the day before
Flood insurance retroactive restoration bill introduced Read More »
The record-breaking US government shutdown is nearing an end after a group of moderate Senate Democrats agreed to support a deal to reopen the government and fund some departments and agencies for the next year, people familiar with the talks said. Under the agreement, Congress would pass full-year funding for the departments of Agriculture, Veterans
Shutdown nears end as Senate Democrats agree to funding deal Read More »
Key insight: The second-largest U.S. bank has been providing relief for federal employee customers since the start of the shutdown, CEO Brian Moynihan said. What’s at stake: The shutdown has now reached 21 days, leaving many federal workers without regular paychecks, which can impact their ability to make payments. Expert quote: “We handle it just
BofA treating gov’t. shutdown like natural disaster: CEO Read More »
The Treasury Department and several other federal agencies told a US judge that her order temporarily halting layoffs tied to the government shutdown doesn’t apply to more than 2,000 employees who have already received firing notices. In sworn declarations filed Friday, officials with the departments of the Treasury, Health and Human Services and Homeland Security said their
Court order won’t stop some shutdown layoffs Read More »
Hundreds of employees at the U.S. Department of Housing and Urban Development (HUD) received layoff notices late last week, as the Trump administration followed through on threats to cut staff during the federal government shutdown. Around 4,200 employees across several agencies were laid off in total on Friday, according to a court filing filed with
HUD layoffs hit 442 employees amid government shutdown Read More »
Mortgage-related securities could experience performance issues as the White House moves to furlough and potentially cut some staff amid a congressional budget impasse, an analysis by Kroll Bond Rating Agency shows. KBRA’s assessment of Congressional Budget Office, Federal Reserve Bank of St. Louis, private-label securities and credit-risk transfer data finds concentrations exist most notably in
Mortgage risks tied to federal furloughs flagged by KBRA Read More »