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...former star of European asset management that oversaw more than €30bn at its peak, H2O was engulfed in crisis in 2019 after the Financial Times revealed it had poured its investors’ money into hard-to-sell bonds...
...So [with mortgage bonds, in effect] you get to buy a Treasury security, and sell a 6-point call against it at a very high vol and inverted curve....
...At a meeting held last month, the firm proposed to its board of trustees for Pimco Funds that it consider converting its $141mn Mortgage-Backed Securities Fund from a mutual fund into an ETF, the filing...
...Offset mortgages, where money deposited in a cash account with the lender counts against the mortgage balance, are another way to cut monthly payments....
...Given that they comprise bundles of home loans, mortgage-backed securities move to roughly the same macroeconomic impulses as Treasuries....
...The global financial crisis of 2008 was the result of unprecedented dysfunction and perversion of the mortgage securities market....
...To protect themselves, insurers often demand collateral totalling 100 per cent of the judgment, or more, in cash or highly liquid securities — not real estate....
...While somebody is always going to buy US debt, the question is cost: Basically, the stakes are the volatility of mortgage rates....
...That’s because they’re mostly regular-ass people who use the TreasuryDirect system to buy bonds for their retirement accounts. Not anymore, though!...
...Argentina has refinanced about $50.3bn worth of peso-denominated sovereign debt in a record bond swap aimed at relieving pressure on public accounts and easing the path for libertarian President Javier Milei...
...The bond can be held within a tax-efficient individual savings account and a self-invested personal pension....
...The Fed currently rolls off up to $60bn in Treasuries and $35bn in mortgage-backed securities each month....
...All those high-yielding cash accounts have got to mean something....
...Sure, investing in stocks or bonds could provide a cash return. Arguably, during a period of low interest rates that opportunity cost is easy to disregard....
...Banks are unlikely to offer the same high yield on their savings accounts due to costs of intermediation. Direct debt sales to retail investors will therefore suck out funds from bank accounts....
...They expect that portfolio investments attached to index inclusion are likely to become an important source of financing for Beijing’s current account in the future as its current account surplus turns to...
...On the latter, this cohort holds about $1.5tn in assets and $1.1tn in net loans (~3%); by major sector they account for 1-2% of C&I and mortgage debt, less than 1% of consumer, and 10-25% of CRE loans (dependent...
...That private sector activity must account for most of any successful transition. And international companies interested in using transition bonds to help them do so can look to Japan for lessons....
...To help find buyers for these large slugs of debt, Winterflood Securities, a government-appointed dealer, is enabling individual investors to buy government bonds in the primary market through major retail...
...While the Bank of England bides its time cutting interest rates, it is possible to get more than 5 per cent in a savings account....
...Long-term mortgages: Rising mortgage rates have been a big contributor to the UK’s cost of living crisis. Can long-term mortgages, a norm in the US, help solve the country’s housing crunch?...
...A regulatory change has given life insurers an opportunity to trade out their underwater holdings of long-term corporate bonds — those hurt worst by rising US rates — for newer securities issued at higher...
...The so-called monoline insurance market, which was almost destroyed in 2008 through its exposure to toxic bank securities, has underwritten a large portion of the bonds issued by the most indebted UK water...
...For many clients, he says, the interest earned from an investment in an individual savings account (Isa) will be greater than the saving the same money would generate if deployed to pay down a mortgage....
...For instance, here’s an extract from a filing by Manhattan Bridge Capital, a small Nasdaq-listed mortgage Reit: No Adverse Material Change....
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