Page 4 - July-August 2018 GSE Report Flip Book

TABLE OF CONTENTS
JJUALN. U- ARUYG. 22001188
TRUMP ADMINISTRATION
MONETARY POLICY
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GDP ESTIMATE FOR Q3 2018. . . . . . . U.S. MEDIAN HOUSEHOLD INCOME U.S. INDUSTRIAL PRODUCTION . . . . SMALL BUSINESS OPTIMISM INDEX CONSUMER CONFIDENCE . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
The Administration submits 90-day U.S-Mexico trade modification
notification to Congress . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . The Trump administration fights for fairer trade . . . . . . . . . . . . BIS warns of the “perfect storm” for the global economy . . . . .
CENTRAL BANK LIQUIDITY DECLINING . . . . . . . . . . . .
The Fed remains on the path of gradually raising interest rates
PERCENT OF GLOBAL DEBT THAT IS NEGATIVE YIELDING . . . . . . . . . . . . . . . . . . . . . . . 16
Senate confirms Richard Clarida to serve as the Fed’s vice chair. . . . . . . . . . . . . . . . . . . . . . . . . . 17 A new era in monetary policy begins in 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 The currency crisis of 2018? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20
WHO’S AT RISK FROM A CURRENCY CRISIS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 The next domino to fall—corporate debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23 GLOBAL DEBT GROWTH . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
SIGNIFICANT SHARE OF COPORATE BONDS OUTSTANDING IN
LARGE DEVELOPING ECONOMIES AT RISK OF DEFAULT .. Venezuela implodes and neighboring countries suffer . . . . . . . . . . . . Make or break time in Europe . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . 25 . . . . . . . . . . . . . . . . . . . . . .26 . . . . . . . . . . . . . . . . . . . . . .29
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. . . . . . . . . . . . . . . . . . . . . . 31 . . . . . . . . . . . . . . . . . . . . . .32 . . . . . . . . . . . . . . . . . . . . . . 32
FANNIE MAE AND FREDDIE MAC
The GSEs’ decade in conservatorship . . . . . . . . . . . . . . . . . . . . . . . .
CBO provides an updated analysis of the costs government will incur under various housing finance reform proposals . . . . . . . . . . . . . . . .
KEY FEATURES OF ALTERNATIVE STRUCTURES FOR THE SECONDARY MARKET . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .8 . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
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