Perspectives

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    The Fed Report: June 2026

    • Fed Leadership Change: This meeting marked Kevin Warsh’s first as the new Fed Chairman following his confirmation and subsequent assumption of office in May. He succeeds Jerome Powell, who, as previously announced, will remain on the Board of Governors for a period of time “to be determined.” Stephen Miran’s resignation from the Board of Governors became effective with Warsh’s swearing in to the Board. Chairman Warsh previously served on the Board of Governors from 2006 to 2011.
    • Target Range Maintained: As generally expected, the FOMC maintained the target range for the federal funds rate at 3.50-3.75% for the fourth consecutive meeting. The statement was noticeably shorter than recent statements and clearly indicated that the key risk to the Fed’s dual mandate continues to be elevated inflation, “in part reflecting supply shocks that have driven price increases in certain sectors, including energy.” The brief statement concluded with a commitment that Chairman Warsh reiterated throughout the press conference: “The Committee will deliver price stability.”
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    The Fed Report: June 2026

    Key highlights from the June 2026 FOMC policy update along with our insights and takeaways.

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    Monthly Macro Monitor: May 2026

    A quick update on the market environment, including key rate and spread trends that are top of mind for Agency MBS investors.

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    Monthly Macro Monitor: April 2026

    A quick update on the market environment, including key rate and spread trends that are top of mind for Agency MBS investors.

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    The Fed Report: April 2026

    Key highlights from the April 2026 FOMC policy update along with our insights and takeaways.

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    The Earnings Extract: Q1 2026

    Commentary from our quarterly earnings call covering the macroeconomic landscape, the Agency MBS market environment, and our quarterly performance.

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    Monthly Macro Monitor: March 2026

    A quick update on the market environment, including key rate and spread trends that are top of mind for Agency MBS investors.

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    The Fed Report: March 2026

    Key highlights from the March 2026 FOMC policy update along with our insights and takeaways.

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    2025 Annual Report

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    Monthly Macro Monitor: February 2026

    A quick update on the market environment, including key rate and spread trends that are top of mind for Agency MBS investors.

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