by Kevin Kelly Portfolio Manager The credit dislocations experienced across investment grade bonds, high yield bonds, and preferreds have also dramatically impacted the mortgage market. The credit moves in the mortgage market been relatively extreme with the spread on 30-year mortgages (Fannie Mae) versus Treasuries nearly doubling from a 0.95% credit spread (on 2/19) to 1.80%...Read More

A wonderful serenity has taken possession of my entire soul, like these sweet mornings of spring which I enjoy with my whole heart. I am alone, and feel the charm of existence in this spot, which was created for the bliss of souls like mine. I am so happy, my dear friend, so absorbed in...Read More