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The bond market isn't buying President Donald Trump's idea that faster rate cuts will send bond yields sliding down and, in turn, slash the rates on mortgages, credit cards and other types of loans.

Federal Reserve watchers expect a board of governors vote in February to reappoint the 12 regional Fed bank presidents — which is typically treated as a formality — to be the next flashpoint in the White House's effort to bring the central bank to heel.

Merchant's notes have several key credit strengths, including that vehicle fleet lease securitization pools have had very low delinquencies and losses historically.

No subordinate notes—the class M notes, essentially—will receive any principal payments until the senior class A notes have been paid down to zero.

The Trump administration's decision not to seek funding for the CFPB and transferring remaining enforcement cases to the Department of Justice were cited as reasons for the resignation of Michael G. Salemi, who took over as CFPB enforcement chief earlier this year.

Yields have failed to sustain a late-November break below 4% given some Federal Reserve policymakers remain cautious on further easing due to inflationary fears.

Enpal issues the first European public securitization for heat pumps and solar panels.

Delinquency trends split in Q3, with securitized and agency loans showing more strain while banks and life companies saw small improvements amid uneven vacancy and rent conditions.

The Government Accountability Office has agreed to investigate Federal Housing Finance Agency Director Bill Pulte for allegations of misuse of power and violations of federal privacy laws

Levkowitz is known in the capital markets for founding Signal Hill Holdings, and as managing partner of Penn Properties, a real estate investment firm.