Balance-sheet normalization at the Fed leads to spread widening, but with a significant lag and focused on premium coupons.

MBS purchase levels at Fannie Mae and Freddie Mac continue to disappoint lenders looking for help with interest rates, though prospects look better for September reporting.

The third-party analytics models used by bond traders now accept VantageScore 4.0 loans, but their methodologies were designed before the confusion around loan-level price adjustment grids.