Private-Label Securities or the PLS markets are less liquid and there are less buyers.
When you securitize a loan of any type; you close, you fund, you kind of pool a bunch of them together. And then once you create your security, then you go out, and sell it on the market.
Securities Industry and Financial Markets Association or SIFMA is a trade organization that kind of sets out regulations and it sets a schedule.
Wage-price spiral is a proposed explanation for inflation.
As wages continue to go up in this strong job economy that we have, that would keep inflation sticky and persistent, which would give the Fed the green light to continue to raise the federal funds rate, which brings interest rates up on everything.
After the jobs report last week, a 75 basis points rate hike will still be done at the next meeting at the end of the month. We're also getting a reading of Q2 GDP at the end of the month. So tons of data coming out to bring certainty to all of us.
Producer Price Index or PPI was high. It was 1.3% higher than the prior month. Consumer Price Index or CPI was a pretty hot read as well. It was over 1.1% higher from the month before, from May to June.