Perspectives
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Monthly Macro Monitor: June 2026
Read More- Iran Conflict: The U.S. and Iran signed a memorandum of understanding (MOU) on June 17, 2026 to be utilized as a negotiating framework with the intent of formally ending the war within 60 days. Despite this important step, the global geopolitical backdrop remains fragile, and the path to a final resolution remains uncertain. While the Strait of Hormuz is technically open and energy pressures have eased somewhat, the normalization of global oil trade activity is expected to be gradual.
- Employment: Key employment measures released in June remained strong. U.S. nonfarm payrolls (NFP) increased month-over-month and significantly exceeded estimates. The unemployment rate remained unchanged, consistent with expectations.
- Inflation: As expected amid elevated energy prices, key inflation measures released in June increased month-over-month. Concerns over lingering inflationary pressures, a hawkish Fed dot plot released in June, and Chairman Warsh’s press conference commentary have further increased market expectations of an interest rate hike in 2026. Fed funds futures are now pricing in a 100% probability of one hike and an approximately 20% probability of an additional hike by the end of the year.
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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.
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Monthly Macro Monitor: June 2026
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 2026
Read MoreKey highlights from the June 2026 FOMC policy update along with our insights and takeaways.
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Monthly Macro Monitor: May 2026
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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Monthly Macro Monitor: April 2026
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: April 2026
Read MoreKey highlights from the April 2026 FOMC policy update along with our insights and takeaways.
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The Earnings Extract: Q1 2026
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: March 2026
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: March 2026
Read MoreKey highlights from the March 2026 FOMC policy update along with our insights and takeaways.
