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Never a Dull Moment- 12/23/22


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1 hour ago, Jimi said:

What's the Whalen tweet mean?

"These involuntary transfers and extinguishment of servicing rights by GNMA and FNMA make RMF the most significant event of default in the government loan market since the collapse of Taylor, Bean & Whitaker in 2011."

The first half of 2023 is going to feature an amazing fireworks display in structured finance.

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52 minutes ago, potatohead said:

Lee,

Was this part of the expected upcoming demand for new Treasuries?

BREAKING: House passes a $1.7 trillion spending bill with Ukraine aid that avoids a partial government shutdown. The measure goes to President Biden to be signed into law - AP

Unless there was major new spending the Treasury would have factored that into its quarterly financing estimate. I know of no major spending initiatives that weren't already known. 

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