The Institutional Risk Analyst

A more efficient mortgage backed securities market benefits everyone by lowering mortgage rates and making home ownership more affordable.

There is an old rule on Wall Street that industry sectors like airlines and auto manufacturers are trades rather than investments...

President Trump is using the threat of tariffs to change the behavior of some of our trading partners, particularly Canada and Mexico. 

The real threat of tariffs announced by Trump is not inflation, but rather a LT decline in the dollar as the global reserve currency

Without profits from commissions and capital markets, BAC would have reported a down quarter due to higher funding and operating expenses.

With Gov Michael Barr stepping down from bank supervision, perhaps Fed Chairman Jerome Powell is more willing to test liquidity lower bound

Cute reference to "average cost," but total return to date would be of greater interest.

What does the upsurge in repo rates at the end of September suggest? None of the media who supposedly cover the Fed seem able to ask.

Selling the Treasury's control position in the GSEs while dragging the furious shareholders along behind is not an attractive opportunity

Yes, that's right, we are going to downgrade $8 trillion in GSE MBS and hundreds of billions in corporate debt.

BLND is generating operating leverage via cost reductions, another way of saying that management is slowly winding up the business.

What happens to the Trump Trade and the broader equity markets if the FOMC passes on a December rate cut?

Could President elect Donald Trump be facing a maxi market correction before inauguration day?

The changes that are going to occur in Washington over the next four years will be dramatically different than during Trump I.

You can tell lies and damn lies about the idea of releasing Fannie and Freddie, but the SEC and FINRA cannot and will not say a word. 

Many homes in FL no longer have adequate home owners insurance much less federal flood insurance.

How will the sudden shift in Fed policy impact financials? Are we headed for a recession?

Why should a private Fannie Mae be a 20% risk weight under Basel III, but PFSI or Mr. Cooper (COOP) are 100%?

If President Donald Trump wins in November, he’ll be more than justified in demanding Jerome Powell’s immediate resignation.

If JPM, PFSI or UWMC want to pay the government to wrap conventional MBS in a “AA+” sovereign rating, why should the Treasury say no?