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Federal Reserve Bank of Richmond President Tom Barkin said economic uncertainty should ease in the coming year as businesses gain confidence in sustained demand and adapt to the new policy environment.

Late last year, commercial bank holdings of mortgage paper reached the highest level since 2023 as these depositories are flush with deposits.

Keefe, Bruyette & Woods attributes Fannie Mae and Freddie Mac portfolio growth for the narrower spreads, but other reasons include lower volatility.

Yields gravitated back toward session lows — down three to four basis points on the day — after the December ISM manufacturing gauge unexpectedly dropped.

Initially, all the class A notes will benefit from total hard credit enhancement that represents 6.10% of the note balance, and the components give the notes a strong credit boost.

Minneapolis Federal Reserve President Neel Kashkari said on CNBC that both sides of the central bank's dual mandate show signs of imbalance, with the labor market appearing more vulnerable.

The pool of mostly multifamily properties has a cap rate of 9.49%, and an LTV rate of 75.1%.

Yield declines were biggest for short maturities, and the 30-year increased slightly, amid expectations at year-end that the Fed was likely to cut rates further in 2026.

The dollar volume of unsecured consumer loan rose dramatically. But as consumer lending rises, so do the default risks.

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