MBS RECAP: Bonds Cheer Weak Inflation Data and Fed Forecasts

Heading into the day, we knew we were looking at 2 key market movers in the form of the CPI data and the afternoon’s Fed festivities (which include an announcement, economic projections, More »

Fannie and Freddie Will Wait Until Jan 2nd to Evict You

Both Freddie Mac and Fannie Mae announced this week that evictions from foreclosed single-family and two-to-four-unit properties owned by the GSEs will be suspended during the holiday season.  The moratorium will begin More »

Disney-Fox deal would be a media earthquake

If all goes as the media world expects, at some point this week or next Disney will announce that it is purchasing a large chunk of 21st Century Fox in what would More »

Ex-Polygamous Sect Leader Gets Nearly 5 Years in Fraud Case

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Schimel Hopeful Contempt Proceedings Lead to Leak Evidence

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MBS RECAP: Bonds Cheer Weak Inflation Data and Fed Forecasts

Heading into the day, we knew we were looking at 2 key market movers in the form of the CPI data and the afternoon’s Fed festivities (which include an announcement, economic projections, and a Yellen press conference). 

The morning’s inflation data got the party started with Core annual CPI coming in at 1.7 again.  This was notable it had just ticked up to 1.8 for the first time in 6 months when it was last reported a month ago.  The move up to 1.8 looked like the start of a bounce back toward 2%.  Today’s regression reminds markets of inflation’s intractability.  

Bonds looked ready for the inflation data to tell a different story as rates were pushing against their recent ceiling.  The weaker data led to an immediate surge back into the safety of the prevailing range.  From there, we waited for the Fed.

As expected, the announcement itself was unimportant.  The rate hike has long since been baked into bond markets and it was the forecasts that got the attention at 2pm.  While the average Fed forecast was very slightly higher (for the Fed Funds Rate), the median Fed member didn’t change for the 2018 or 2019 time frames.  There was noticeably less “migration” (movement of dots toward higher rates) on the Fed’s dot plot compared to September.

The dots were good for another rally in bonds.  It wasn’t as big as the CPI-driven rally, but it had friends–namely, Janet Yellen.  Yellen took her farewell opportunity to “let loose” (as much as she can, anyway) on a few topics that she might have phrased differently earlier in her tenure.  Specifically, she noted that stock valuations were “high” even though she didn’t say that was a problem.  She also pointed out that her colleagues had considered the probable impact of the tax bill in drafting their forecasts.  That’s a bigger deal than it might seem because it means the fairly tepid Fed rate hike forecasts were potentially more aggressive than they otherwise would be in the absence of the tax bill.

10yr yields ended the day down more than 5bps and Fannie 3.5 MBS rose nearly 3/8ths of a point .  Most of the gains came after the Fed, but at least half of the movement was attributable to CPI (the initial movement merely helped us get back into positive territory after morning weakness).

Article source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/823246.aspx

The Movie Studio, Inc. (MVES: OTC Pink Current) | The Movie Studio Inc. Announces Digital Distribution Content and Marketing Strategy for 2018

HALLANDALE BEACH, Fla., Dec. 14, 2017 (GLOBE NEWSWIRE) — The Movie Studio, Inc. (OTC:MVES) (the “Company”) www.themoviestudio.com proudly announces the introduction to Network Affiliates, Vendors and Content Providers The Movie Studio, Inc. acquisition of Emerging Pictures and new content and marketing initiative prior to re-integration of the proprietary asset movie theater commercial Video on Demand Network. Upon our new marketing initiative being embraced by the participants, the Company intends to accelerate on leveraging our content and marketing solution(s) via our direct access theatrical distribution network of over One Hundred and Fifty (150) theaters venues currently with digital servers targeted for 2018.

About The Movie Studio acquisition of Emerging Pictures

Emerging Pictures Commercial VOD (Video on Demand) platform is a B2B Netflix, Hulu or Amazon Prime for movie theaters. The platform provides seamless point to point distribution while lowering cost for theaters, film makers and distributors. The technology also totals consumer demand for motion pictures providing advanced analytics while utilizing the data to match and deliver content in order to capitalize on profits. This enables providers and exhibitors to be more effective and advanced in their distribution tactics and user interface design decisions.

Historically, the technology at hand has forced filmmakers and studios to provide physical copies of their films, DVDs or digital copies on hard drives to distributors and theaters across the globe. All too often the films are ultimately copied and pirated, resulting in a loss of revenues. Emerging Pictures Commercial VOD (Video on Demand) platform helps to prevent piracy with the goal of increasing overall revenues for film-makers, studios, distributors and theaters. The proprietary platform differentiates from the traditional process abolishing piracy of motion pictures. 

“By initiating vendor and theatrical application of the acquired proprietary commercial VOD platform developed by Emerging Pictures, The Movie Studio could maximize, utilize, enhance and expand its footprint to theatrical distribution and gain market share of our independent films and other films companies with possible revenue shares,” announced Lorne A. Wray, the Executive Vice President.

“The acquisition of the Emerging Pictures Platform in theater venues is positioned in the sector with a disruptive technology and combined with a disruptive marketing strategy could not only deliver movies to the theaters but also combine a digital out of home (DOOH), mobile and various print initiatives as ‘Traffic Drivers’ that could provide a unique model for large scale integration of our content,” Gordon Scott Venters, President and CEO stated today.

About The Movie Studio Inc.
The Movie Studio, Inc. is a vertically integrated motion picture production and distribution Company with completed motion picture and production assets. The Company acquires, develops, manufactures, and distributes independent motion picture content for worldwide consumption in Theatrical, Video on Demand (VOD), Foreign Sales and on various media devices. For more information, please go visit www.themoviestudio.com.

Forward Looking Statements and Disclaimer
Statements made in this press release that express the Company or management’s intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “will” and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company’s actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. The Company cannot guarantee future financial results; levels of activity, performance or achievements and investors should not place undue reliance on the Company’s forward-looking statements. No information contained in this press release should be construed as any indication whatsoever of the Company’s future financial performance, future revenues or its future stock price. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. No information in this press release should be construed as any indication whatsoever of the Company’s future revenues or results of operations.

The Movie Studio, Inc.
Gordon Scott Venters
President and CEO
Gulfstream Park 
800 Silks Run Suite 1330
Hallandale Beach, FL 33009

Article source: http://www.otcmarkets.com/stock/MVES/news?id=178073

Fed raises rates with expectation economy will improve next year

The Federal Reserve announced its final rate hike of 2017 Wednesday at the end of its December Federal Open Markets Committee meeting, but implied more rate hikes are still to come in 2018 and beyond. 

But no one really expected anything different. Experts previously said November’s jobs report all but guarantees December interest rate hike. And earlier this week, all major news outlets are reporting to Fed will, in fact, raise rates.

“We believe the rate increase was well-communicated to markets and had been anticipated,” Keller Williams Economist Ruben Gonzalez said.

This increase is the third time the Fed has raised the federal funds rate this year. In June, the Fed voted to raise interest rates for the second time this year. The first rate hike occurred in its March meeting.

The Fed raised rates by 25 basis points, moving the target range for the federal funds rate to 1.25% to 1.5%.

The FOMC announced it’s overall outlook on the economy is positive, saying it will continue to gradually increase the federal funds rate. 

“The Committee expects that economic conditions will evolve in a manner that will warrant gradual increases in the federal funds rate; the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run,” the Committee announced Wednesday. “However, the actual path of the federal funds rate will depend on the economic outlook as informed by incoming data.”

“The Committee continues to expect that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace and labor market conditions will remain strong,” the statement said. “Inflation on a 12‑month basis is expected to remain somewhat below 2% in the near term but to stabilize around the Committee’s 2% objective over the medium term.”

And experts claim that the Fed’s decision to raise rates is already expected, and they are focusing on what direction members say the Fed will take in 2018 and 2019.

“The major monetary policy question surrounding the December meeting isn’t whether or not there is a hike now, however, but what’s said within the statement in relation to the raising of rates in 2018 and perhaps 2019,” said Steve Rick, CUNA Mutual Group chief economist. “The Fed recently forecast raising rates three times in 2018, but with tax reform now looking like a real possibility that could provide a simulative effect on the economy, as well as changes in the composition of the FOMC, I think it seems logical to expect four hikes in 2018.”

Earlier this month, Fed Chair nominee Jerome Powell was overwhelmingly approved by the Senate Banking Committee, all but securing his approval by the full Senate. President Donald Trump nominated Powell to replace current Fed Chair Janet Yellen when her term expires in 2018.

However, one expert says this shift in leadership will cause any major disruption to the Fed’s current trajectory.

“We don’t anticipate dramatic changes in rates in the near term, barring discontinuity in Federal Reserve policy resulting from the change in leadership set to take place next year,” Gonzalez said.

Voting for the federal funds rate increase were Janet L. Yellen, Chair; William C. Dudley, Vice Chairman; Lael Brainard; Patrick Harker; Robert S. Kaplan; Jerome H. Powell; and Randal K. Quarles. Voting against the action were Charles L. Evans and Neel Kashkari, who preferred at this meeting to maintain the existing target range for the federal funds rate.

Article source: https://www.housingwire.com/articles/42080-fed-raises-rates-with-expectation-economy-will-improve-next-year

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