Re: “Trade War” Impact on NRZ
One of the best sources for free data and cool graphics capability is the St. Louis Federal Reserve website (affectionately known as FRED). Check it out, it is addictive and your tax dollars are paying for it. You can customize data series and graphs to your heart’s content.
A few data series to watch are the following:
1. 10 year constant maturity treasury (focus on quarter-end data vs. NRZ book values). NRZ marks its MSRs to market verse a longer term rate like the 10 year treasury)
2. Graph BBB corporate yields vs. 5 year treasury yields (credit spread proxy)