Persistent inflation and more rate hikes. Old news. Sentiment is more negative that a “soft landing” can be engineered, so what’s next? Some investors will thrive in this new life of higher risk, but for most the goal is to preserve and retain capital. But what about the “green shoots” that Fed policy is working to cool the economy, with the dollar stronger than it has been for 20 years, home prices trending downward, and stocks down? So maybe it’s not all doom and gloom. Welcome to the “Life goes on” edition.

Key Insights

• Structured Products: Low and Slow
• CMBS: The Infamous “Maturity Wall”
• Residential: Negative HPA a Lock
• Agency MBS: Fed MBS Holdings Floodgate
• Consumer ABS: BB Yields in Double Digits
• New and Interesting: Music to My Ears…
• ESG: NYC Gets an F