This Thanksgiving...Assume Nothing…Not Even Your Mortgage

This week on the Convexity Pulse, Kirill Krylov and Steven Scheerer break down the shift from equity outflows into fixed-income inflows and what that means for MBS performance heading into year-end. They explore the “silver wave” of seniors carrying mortgage debt into retirement and how this creates welcome increases to prepayment speeds in discount cohorts. The episode closes with a look at assumable and portable mortgage proposals, examining how each idea could reshape prepay behavior, credit exposure, and pricing across the MBS market.