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Rejection

And then it happened. Rejection. And with rejection come technical consequences. Perhaps the start of the first correction of 2020, the first correction since the Fed went wild on the intervention front […]

Mnuchin to Boost Average Debt Maturity; Ultra-Long Bonds on Ice

The US Congress will never stop giving away money in the form of entitlement promises, etc. Just look at USDebtClock.org if you don’t believe me. Of course, trying to get politicians to act prudently is out of the question. So the US Treasury has to lower the cost of debt funding. And offer more debt … Continue reading Mnuchin to Boost Average Debt Maturity; Ultra-Long Bonds on Ice

80’s Party

First they think you’re crazy and then they’ll join you. On January 14th I outlined a rather obvious appearing correlation between the Fed’s repo operations and the market’s behavior: Every day, no […]

CFPB Planning To Eliminate DTI Requirement From QM Lending Rules (Taking The Safeties Off The Torpedoes)

It was back during the banking crisis of 2008/2009 that led Chris Dodd (D-CT) and Barney Frank (D-MA) to introduce the “Dodd–Frank Wall Street Reform and Consumer Protection Act.”  This Act created Elizabeth Warren’s Consumer Financial Protection Bureau (CFPB). (Housing Wire – Ben Lane) Over the last several months, a number of the nation’s largest lenders … Continue reading CFPB Planning To Eliminate DTI Requirement From QM Lending Rules (Taking The Safeties Off The Torpedoes)