The Latest

Total consumer debt in the United States hit $18.2 trillion by the end of last year, with $12.8 trillion attributed to first mortgages, according to Equifax.

Underwriting relied heavily on alternative documentation, led by debt-service coverage ratios (35.7%) and bank statements ranging from 12-23 months (28.2%) and longer than 24 months (4.6%).

Futures spreads linked to the Secured Overnight Financing Rate, which closely track expected Fed policy, are becoming deeply inverted — a sign that traders are starting to price a more prolonged central bank easing cycle.

Judges on the U.S. Court of Appeals for the District of Columbia struggled to find a resolution to an injunction issued last year that halted reductions-in-force by the Consumer Financial Protection Bureau.

At press time no injuries were reported, but exhibitors were relocated to satellite booths throughout the venue, the Aria Resort & Casino.

Federal Reserve Gov. Lisa Cook said AI could boost productivity, but warned the transition may raise unemployment and force difficult tradeoffs between inflation and jobs.

After closing, which is expected on February 27, coupons are expected to pay coupons of 4.83% on the notes rated AAA and 5.04% on the AAA-rated A1LCF.

John Velis, Americas macro strategist at BNY, said the US can lean on T-bills to plug that "substantial" gap, helping to explain why the reaction in US Treasuries to Friday's ruling has so far been muted.

The index will provide market professionals with consistent, transparent and dependable methods of evaluating performance and risk across the securitized credit markets.

The rally, which drove the rate on the benchmark 10-year note down six basis points to 4.03%, gathered steam as stocks slid and worries mounted about potential US military strikes on Iran.