Highlight of the Week
Stocks fall following attack in Saudi Arabia
- Drone strike Saturday knocked out 1/2 of daily crude production
- Perceived havens rallied as US 10-year treasury down 4.4 bps and 2-year down 3.7 bps
Rate Curves
Rapid Report:
Banks continue warming towards mortgage bonds
- In 2018, $70 billion ended up in private-label bonds, far below the $1 trillion pre-crisis, but remains highest number reported since 2007
- Banks continue to lay the groundwork for a market that stands to grow as the Trump administration aims to privatize housing finance
- Trend draws attention towards market search for yields in a low-rate environment
Global central banks meet with cryptocurrency leaders
- ECB’s Benoit Coeure says “bar for regulatory approval will be high” for proposed cryptocurrencies like Facebook’s libra
- Global banks in England and China have raised the idea of creating a digital reserve currency in effort to back crypto values in reserves
Week in Atlanta sports
- Braves clinch 2nd consecutive postseason berth and close in on division crown as Falcons defeat Eagles in home opener
