Rising mortgage rates are forcing big banks to write down losses on their mortgage-backed securities (MBS) amid the Federal Reserve’s tightening interest rate policy and regulations. An MBS is an investment product that bundles home loans and other real estate debts, which then are bought from the banks that issued them. Wall Street’s big four…

Commentary Investors are always looking for ways to earn above-market returns—and Wall Street is always happy to come up with some creative ways to oblige. Back during the 2008 meltdown, they fed the market’s appetite for yield with something called collateralized debt obligations or CDOs. These weren’t new innovations. They were created back in 1987…

Federal Reserve Gov. Randal Quarles on Wednesday warned that additional government spending being contemplated by the Biden administration could lead to “transitory” inflation continuing for too long. Speaking at a Milken Institute conference in Los Angeles, Quarles noted that the central bank has been increasing its holdings of Treasury securities and agency mortgage-backed securities by $120 billion a month since…