At yearend, traders and lenders are trying to get a handle on the direction of interest rates, with geopolitical events potentially playing a larger role than originally thought.
Associated Banc-Corp will take a loss in the fourth quarter; Chase packages seasoned jumbos in non-agency MBS; Octane Lending expands ABS issuance; another whole-business ABS from Jersey Mike’s.
Agency single-family MBS issuance rose 7% in November, hitting its highest monthly output in two years. Most of the gain came from continued growth in refinancing, especially rate-term transactions. (Includes two data tables.)
New capabilities added to Freddie Mac’s basic ML-deal will allow corporate CUSIPs to be converted to municipal CUSIPs without impacting the tax-exempt status of the securities.
Most of the banking industry’s biggest players in residential MBS reported substantial increases in the value of their holdings in the third quarter. (Includes two data tables.)