Economy

Clear Street is bringing on a market maker as a strategic investor as it expands its product set.

The increase reflects the rise in the 10-year Treasury yield, which is back above 4% for the first time since that month.

Non-depositories now dominate home lending, but many of these firms were untested until they had to grapple with the current rising rate environment. How they fare could significantly impact the rest of the mortgage market and, more specifically, the Government National Mortgage Association.

The Federal Housing Finance Agency may have gotten more than it bargained for in its review of the Home Loan banks, but there is little doubt that the effort will result in significant structural change.

Federal Home Loan banks aren't doing enough to address the shortage of affordable housing in the U.S., FHFA Director Sandra Thompson says. Some of their members are instead using advances to manage liquidity and perhaps engaging in crypto-related and other activities that put the Deposit Insurance Fund at risk, she says.

The central bank has raised rates aggressively for nearly a year, but experts believe the hiking cycle is nearly over.

The group, led by Senate Banking Chairman Sen. Sherrod Brown, said nonperforming loans sold to single family housing rental businesses or private equity firms results in the displacement of homeowners.

Rising inventories and the specter of regulation may make it seem like the pandemic auto boom is over, but broader trends could make it a profitable business if banks do it right.

Repo markets and the bank deposit business, in particular, would be upended if the U.S. were to default on its debt, experts say.

After months of forecasting and bracing for a recession in 2023, the economy seems increasingly durable. But it depends on what you're looking for.