$3.601B Treasury Coupon Purchase 2020-08-20
This does not include the final settlement of previous forward MBS purchase contracts, which is material because today was the last MBS settlement for August.
We have to be somewhat careful in making too much out of statistics taken at extreme times like these. Massive moves can trigger unreliable noise in them. The second quarter of 2020 qualifies in every possible way. And the numbers it has produced are certainly extreme.Late last week, the Bureau of Labor Statistics (BLS) issued […]
Another weak one.
Despite postmaster general Louis DeJoy confirming he is suspending controversial cost-cutting changes to the United States Postal Services until after the presidential election, Speaker Nancy Pelosi said the House will still meet on Saturday to vote on…
5 day cycle projection 3412.
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
What the Fed did today.
The U.S. has overtaken the EU27 in total deaths. Other data is just as bad.
A surge in new home constructions is prompting a healthy dose of optimism for home builders across the U.S. New data from a confidence index shows home builders and buyers are feeling the highest rate of confidence in the housing market since 1998. Acc…
Following a surge in new housing starts to end 2019, the global COVID-19 pandemic reached the private housing construction industry in the U.S. and caused a record-low number of new projects in the country. After three straight months of growth, howeve…