October 2025

Key Insight: McKernan’s confirmation comes as the Trump administration’s deregulatory financial agenda begins in earnest, positioning a seasoned industry ally in a key Treasury post. Supporting data: McKernan was confirmed in a 51–47 vote. McKernan was nominated to lead the Consumer Financial Protection Bureau earlier this year but his nomination was withdrawn in May. Forward […]

The data void created by the US government shutdown is pushing bond traders to hedge against the risk that the Federal Reserve pauses at one of its two remaining meetings this year, or potentially delivers more policy easing than the market anticipates. Interest-rate swaps have been steadily pricing in roughly a quarter-point rate cut in both October

Applications for mortgages to buy a home or refinance both fell for a second week, marking a swift reversal of what had been a hopeful sign of a revival in the US housing market. The Mortgage Bankers Association’s index of home-purchase applications declined 1.2% in the week ended Oct. 3, while a gauge of refinancing