Shellpoint Partners LLC, the home lender backed by mortgage-bond pioneer Lewis Ranieri, is planning a $251 million transaction in its first deal in the reviving market for securities without government backing.
Deepak Narula rose to fame as manager of the best-performing hedge fund last year by navigating the government’s stimulus efforts. He’s having a harder time as the Federal Reserve moves closer to an exit.
The Bank of England’s executive director for financial stability, Andrew Haldane, said the biggest global risk is a jump in bond yields that might happen for reasons beyond the unwinding of central-bank policy.
The $1.2 trillion of mortgage-backed securities the Federal Reserve has amassed to stoke economic growth is creating a potential firewall that dealers say is shielding the bond market from a rapid decline as policy makers debate scaling back debt purchases.