The Institutional Risk Analyst

In an earlier issue of The IRA, we noted that one reason that the GSE shares may be suffering is that the Trump Administration is apparently wrestling with how to take Fannie Mae and Freddie Mac out of conservatorship.

Banks continue to show a strong preference for late vintage loans over securities, a fact which may cause loan yields to continue falling

As and when GS can exit the loss leading credit card relationship with AAPL, the performance of the business should improve significantly.

The changes that are going to occur in Washington over the next four years will be dramatically different than during Trump I.