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...Rapid rises in mortgage rates had at first propelled homebuilder stocks, because they made current homeowners holding cheaper fixed-rate loans less willing to sell their properties....
...Before 2008, the capital cushions of the big banks were ridiculously thin, and the rules around subprime mortgage securitisation, for example, were too lax....
...Voters in Iowa will fire the starting gun on the Republican presidential nomination process on Monday by holding caucuses to select their choice....
...Signa Holding, the central company, recently filed for administration....
...Assets run by Baillie Gifford’s Scottish Mortgage Investment Trust, many of whose technology holdings have been hit by rising interest rates, have dropped from about £18bn in June 2021 to £12bn as at October...
...It means that despite only holding roughly half of the publicly traded shares, Refinitiv holds closer to 90 per cent of the total voting power....
...Mortgage borrowing costs have hit a two-month high of 6.57 per cent, according to a Thursday survey from mortgage finance giant Freddie Mac....
...We thought rising mortgage rates would crush the homebuilders, and bet against Pulte in the FT stockpicking contest....
...Given that their portfolio grew sharply during the QE4 period, and that their holdings appear to be tilted toward shorter-term, lower book yield MBS, it makes sense that the pain in mortgages was felt more...
...As Don Rissmiller of Strategas put it recently: “We’re holding our breath under water, as long as [monetary] policy remains restrictive.”...
...The company blamed “significant increases in home mortgage interest rates” for curtailing demand....
...It’s holding up really well because inventory levels are low, because you have a 3.9 per cent unemployment rate....
...And the riskiest business to be in was subprime mortgage. So Citi ran right into it....
...The fate of the holdings, which consist of mortgage-backed securities, collateralised mortgage obligations, and commercial mortgage-backed securities, had rattled bond markets, which feared the Federal Deposit...
...Those in upper left quadrant (with a lower than average proportion of HQLA/deposits but higher levels of household deposits) tend to be slightly more mortgage-heavy but retail deposit-rich banks like Lloyds...
...More than $8bn of losses on Tesla and $6bn on Shopify made these two of Baillie Gifford’s worst-performing holdings....
...To assess risks properly, investors need to get a sense of how much of a bank’s CRE holdings are offices....
...The investment manager’s US subsidiary, Abrdn Inc, also struck a deal with Tekla Capital Management to acquire four US-listed healthcare and biotech trusts, with $3bn of assets....
...At its Sam’s Club subsidiary, management said positive sales trends during the fourth quarter for discretionary items such as apparel and merchandise were still holding in place as recently as the Super...
...*This article has been amended since publication to clarify the duration of SVB’s securities holdings...
...One thing to start: The Phoenix Suns are on track to set a record price for the sale of a National Basketball Association franchise, with mortgage lending billionaire Mat Ishbia nearing a $4bn deal to acquire...
...For one thing, the sharp rise in mortgage rates has put a lid on banks’ home-lending businesses....
...They could allow companies to in effect mortgage their assets when power prices soar, given they should be worth more. They could then repay borrowings as customer cash flow comes through....
...The state-owned Agricultural Bank of China said it held Rmb660mn of overdue loans on unfinished homes, the largest among banks that disclosed their holdings....
...Berkshire said higher mortgage rates were also expected to pressure its handful of businesses in the housing sector....
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