The reputation of being a safe, liquid asset adds about 47 basis points to the “convenience premium” of agency MBS over investment grade bonds, according to the National Bureau of Economic Research.
Rising interest rates will likely bolster investor interest in floating-rate mortgage securities such as agency CMOs and non-agency products. The Fed expects to begin unwinding its massive agency MBS portfolio “at a coming meeting.” (Includes three data charts.)
Mortgage REITs reported declines in their holdings of agency MBS during 2021, but diverse mortgage-related investments continued to grow. (Includes data chart.)
The Federal Reserve will stand back a bit from the agency MBS market in 2022, but U.S. banks may be able to step up in a declining market. (Includes two data charts.)
Ginnie Mae has added a “green status” field to its multifamily MBS disclosures, its first environmental, social and governance disclosure in the multifamily space.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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