FANNIE AND FREDDIE MAC REVISED THEIR LENDING LIMITS on multi-family mortgages to $359 billion from $339 billion in 2018. “These new multifamily caps eliminate loopholes, provide ample support for the market without crowding out private capital.” The 10-year note spiked 12.4 basis points. S&P -0.16%, DOW +0.12, NASDAQ -0.28%.
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Topics: Investment Grade, Loans, Analytics, bonds, junk bonds, bond market, market analytics, New Issues, News, Syndicated Bonds, syndicated, research, market update
JOBLESS CLAIMS PLUMMET TO 5-MONTH LOWS suggesting the labor market remains strong despite the deteriorating job growth. Claims fell by 15,000 reporting a seasonally adjusted total of 204,000 applications. The 10-year note rose 3.9 basis points. S&P +0.50%, DOW +0.39, NASDAQ +0.58%.
Topics: High Yield, Investment Grade, Loans, Analytics, bonds, junk bonds, bond market, market analytics, New Issues, Finance, Fixed Income, News, Syndicated Bonds, syndicated, research, market update
Topics: Investment Grade, Loans, Analytics, bonds, junk bonds, bond market, market analytics, New Issues, News, Syndicated Bonds, syndicated, research, market update
Topics: High Yield, Investment Grade, Loans, Analytics, bonds, junk bonds, bond market, market analytics, New Issues, Finance, Fixed Income, News, Syndicated Bonds, syndicated, research, market update
PRODUCER PRICES ROSE IN AUGUST edging 0.1 percent higher supporting the market's expectation the Federal Reserve will cut interest rates next week. Gold closed above $1,500 for the first time since early August as the White House sparked fear, “Federal Reserve should get our interest rates down to ZERO, or less”. The 10-year note rose 0.1 basis points. S&P +0.72%, DOW +0.84, NASDAQ +1.06%.
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EQUITIES STRUGGLED EARLY ON following weak factory data from china initiating once again fears of a global recession, producer prices shrank 0.8 percent in August. “A slowdown in China is clearly a sign that global deceleration of economic activity is real and is something we’re going to have to deal with.” The 10-year note rose 4.4 basis points. S&P +0.03%, DOW +0.26, NASDAQ +0.04%.
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Topics: Investment Grade, Loans, Analytics, bonds, junk bonds, bond market, market analytics, New Issues, News, Syndicated Bonds, syndicated, research, market update
CONSUMER BORROWING RISES IN JULY as Americans racked up credit card debt surging 11.2 percent. Additionally, borrowing increased at the fastest rate in almost 2 years. Overall consumer credit growth clocked in at 6.8 percent up from 4.1 percent in June. Home purchasing sentiment ticks higher as mortgage rates fall upon global uncertainty, “We do expect housing market activity to remain relatively stable, and the favorable rate environment should continue supporting increased refinance activity,” Fannie Mae chief economist Doug Duncan. The 10-year note rose 7.8 basis points. S&P -0.17%, DOW +0.07, NASDAQ -0.56%.
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