Although ABS issuance backed by auto finance fell 26% from the first to the second quarter, the sector still accounted for nearly 57% of non-mortgage securitization in the first half of 2020. (Includes two data charts.)
Read More
The New York Federal Reserve purchased $9.81 billion in agency MBS on Monday and Tuesday, in addition to $22.89 billion bought last week. It’s been nearly three weeks since it sold any of its MBS holdings.
Read More
The REIT’s plan to terminate its management agreement with PRCM “for cause” would let it off the hook from paying a $144 million termination fee. But PRCM isn’t going down without a fight.
Read More
The net asset value of the Blackstone Real Estate Income Fund dropped by 24% to $443 million as of March 31 from $584 million at the beginning of the year.
Read More
By examining how well LIBOR has correlated over time with actual bank funding costs, Federal Reserve economists have demonstrated the London rate is no better at this task than risk-free rates like SOFR.
Read More