Mortgage-backed securities (both Fannie and Ginnie) rallied last week as investors scooped up U.S. Treasuries in reaction to international tensions.
In the first three quarters of 2017, State Street’s (STT) investment management division had total revenues of ~$1.3 billion compared to $971 million in the first three quarters of 2016.
Last week's T-bill auctions had a mixed trend for discount rates. While the six-month rates were unchanged, rates increased for the three-month and one-month maturities. A higher discount rate for the T-bills would imply higher demand at the higher discount rate at the auction.
The staff economists took down their near-term estimate of GDP growth based on the government shutdown and retail sales.
While the yield curve is normally upward-sloping, it might flatten excessively in certain special conditions. "Flattening" refers to the contraction of differences in yields across maturities.
The purpose of Treasury auctions is to obtain financing from markets at the most competitive cost. The yield on these securities is determined through a public auction process. These yields affect the secondary market for U.S. Treasuries. Yields and bond prices move in opposite directions.
At U.S. Bank (USB), residential mortgage loans were $51,872 million at the end of 4Q14. This was a modest growth of 2.2%—compared to 4Q13.
Unit investment trusts account for a minuscule 0.05% of the total assets under the traditional investment management space.
Goldman Sachs (GS) stock has risen 15.4% over the past six months and 5.4% over the past year.