Perspectives
-
Monthly Macro Monitor: June 2025
Read More- Employment and inflation measures released in June were generally consistent with consensus estimates and relatively unchanged on a month-over-month basis.
- The Fed maintained its cautious tone at its June meeting, as year-end inflation expectations have increased and economic growth forecasts have been reduced. Chair Powell expects the initial impacts of tariffs to appear in inflation data in the coming summer months.
- The MOVE Index, a broad measure of interest rate volatility, was generally stable throughout June, but it remains elevated relative to long-term historical levels.
- While Agency MBS spreads to benchmark rates tightened modestly during the month, they continue to remain elevated by historical standards as macroeconomic uncertainty persists.
-
Why Agency MBS: Market Snapshot
Read MoreAgency MBS assets benefit from compelling fundamentals and favorable attributes that make them a critical building block of any investment portfolio.