Investments

Clients have been yanking their cash since the Pasadena, California-based company said on Aug. 21 that Leech was going on leave after he received a notice from the SEC that it may recommend enforcement action.

Mortgage professionals are focusing on housing policies and the Federal Reserve this November.

A measure of daily yield swings is at its highest in a year as traders position for further losses that could send 10-year yields as high as 4.5% over the next three weeks.

Since the first SLL was arranged roughly seven years ago, the market for such loans has grown to almost $1.8 trillion.

Yields across maturities rose at least four basis points, reaching the highest levels in more than two months, after the monthly auctions of two- and five-year Treasury notes both drew higher-than-anticipated yields.

The transaction will free up as much as $500 million for loans in Latin America and the Caribbean to help alleviate poverty and protect the environment.

Buybacks of Treasuries that are infrequently traded relative to its newest, or "on the run," notes and bonds, are intended to support market resilience by creating opportunities for dealers to offload them.

The fund will include asset-based loans such as CLOs.

Traders are pricing in roughly 20% odds that the Fed holds rates steady in either November or December.

Quantitative tightening has helped to keep mortgage rates elevated, but new concerns over how it impacts market liquidity could lead the Fed to end the program.