Investments

Short-end issuance is being closely watched after the Treasury Borrowing Advisory Committee on Wednesday recommended the department skew future issuance toward shorter maturities where liquidity and investor demand is stronger.

Everything from housing to mergers and acquisitions are being upended, especially after 30-year US Treasury bond yields this week punched through 5% for the first time since 2007.

While the company's long-term issuer default rating has slipped a little, affiliates of Blackstone that have a higher one back the reverse mortgage player.

Lam, who oversees the firm's structured credit investment strategies, managed CLOs, separate accounts and commingled accounts. Lam succeeds Andrew Gordon, who will assume the role of executive chair of the board of managers.

US 30-year yields dropped seven basis points to 4.79%, unwinding part of Thursday's surge that was driven by a somewhat disappointing inflation reading and a weak bond auction.

Treasury yields climbed and stocks edged lower as consumer inflation data bolstered speculation on another Federal Reserve rate hike — even if the central bank decides to pause next month.

A majority of the commercial real estate CLO's collateral has pari-passu participations, including 18 that have a related obligation for an unfunded future advance.

The current Treasury yield curve is leading homeowners to pay mortgage rates at least 120 basis points more than they should, equal to an extra $245 a month on a $300,000 loan, their letter said.

The bank recently hired Nikunj Gupta as head of credit structuring in order to strengthen its existing team. Gupta had previously headed up the European CLO primary business at Deutsche Bank.

While the selloff abated on Wednesday, traders are on high alert for a resurgence in volatility — especially if U.S. non-farm payrolls data on Friday come in stronger than expected.