Perspectives
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The Fed Report: September 2024
Read More- At its highly anticipated September meeting, the FOMC lowered the target range for the federal funds rate by 50 basis points to 4.75-5.00% “in light of the progress on inflation and the balance of risks.”
- This marks the Fed’s first rate cut since the Covid-fueled financial market dislocation in 2020 and the subsequent quantitative tightening cycle that began in early 2022, which increased the target range for the federal funds rate by over 500 basis points across 11 rate hikes in a little over two years.
- Chair Powell’s remarks emphasized that this 50 basis point reduction is a “recalibration of the Fed’s policy stance” intended to maintain strength in the economy and the job market and that, while yesterday’s decision marked the beginning of an easing cycle, the Fed is “not on any preset course” and will maintain its data-dependent approach to monetary policy decisions on a meeting-by-meeting basis.
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The Fed Report: September 2024
Read MoreKey highlights from the September 2024 FOMC policy update along with our insights and takeaways.
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Monthly Macro Monitor: August 2024
Read MoreA quick update on the market environment, including key rate and spread trends that are top of mind for Agency MBS investors.
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The Fed Report: July 2024
Read MoreKey highlights from the July 2024 FOMC policy update along with our insights and takeaways.
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Monthly Macro Monitor: July 2024
Read MoreA quick update on the market environment, including key rate and spread trends that are top of mind for Agency MBS investors.
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The Earnings Extract: Q2 2024
Read MoreCommentary from our quarterly earnings call covering the macroeconomic landscape, the Agency MBS market environment, and our quarterly performance.
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Monthly Macro Monitor: June 2024
Read MoreA quick update on the market environment, including key rate and spread trends that are top of mind for Agency MBS investors.
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The Fed Report: June 2024
Read MoreKey highlights from the June 2024 FOMC policy update along with our insights and takeaways.
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Monthly Macro Monitor: May 2024
Read MoreA quick update on the market environment, including key rate and spread trends that are top of mind for Agency MBS investors.