Fixed income

New mortgage bonds now offer yields that are about 1.66 percentage point higher than U.S. Treasuries, according to data compiled by Bloomberg. That's the most relative to corporate bonds in 17 years. 

Stock futures fluctuated on Wednesday as the latest data showed the U.S. economy expanded at a slower rate than previously thought in the second quarter, fueling speculation the Federal Reserve is nearing the end of its rate-hike cycle.

The yield on 30-year securities has climbed almost 25 basis points over the past three sessions, returning it to levels last seen in mid-November when inflation was still above 7%, more than double the current rate. Ten-year borrowing costs rose to around 4.15%. 

The mortgage company was able to move a lot closer to its goal to become a $1 trillion servicer with the expiration of the final tender offer and closing of the deal.

The acquiring company netted an incremental gain in shareholder buy-in with its previous postponement but not enough to push the transaction forward.

In their latest assessment of the bond market outlook, Morgan Stanley strategists are challenging the former head of the Federal Reserve Bank of New York's view that losses are likely to deepen.

A subsidiary pushed its tender offer to buy outstanding shares by June 27 further out after a small percentage of stockholders failed to accept by the original expiration date.

Investors are piling into longer-dated notes on bets that policy makers will succeed in taming inflation, an outcome that will deliver strong and stable returns on debt.

Treasury bills maturing in the first half of June rallied as trading resumed following the Memorial Day holiday, after a deal to lift the debt ceiling eased concern over the prospect of a calamitous U.S. default. 

Trading of the company's securities was immediately suspended for failure to meet minimum shareholder equity levels, a move it agreed with.