Investors scoop up Ginnie Mae TBAs on international tensions

Mortgage-backed securities (both Fannie and Ginnie) rallied last week as investors scooped up U.S. Treasuries in reaction to international tensions.

Behind State Street’s Investment Management Division

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.

Why the US Treasury ups the T-bills auction size by 12%

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.

Why did the Fed adjust its economic outlook at the October...

The staff economists took down their near-term estimate of GDP growth based on the government shutdown and retail sales.

Recommendation: You can learn from the yield curve of 1989–1990

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.

Why Treasury auctions impact investors and financial markets

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.

U.S. Bank’s growth in residential mortgage loans was modest

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 seek investors

Unit investment trusts account for a minuscule 0.05% of the total assets under the traditional investment management space.

Goldman Sachs Is Trading at Discount to Peers

Goldman Sachs (GS) stock has risen 15.4% over the past six months and 5.4% over the past year.