Core Viewpoint - TWO Harbors Investment Corp. has adjourned its Special Meeting of Stockholders to allow additional time for stockholders to vote on the proposed merger with UWM Holdings Corporation, with the meeting reconvening on March 24, 2026 [1][2]. Company Overview - TWO Harbors Investment Corp. (NYSE: TWO) is a real estate investment trust (REIT) focused on mortgage servicing rights and residential mortgage-backed securities, headquartered in St. Louis Park, MN [6]. - UWM Holdings Corporation (NYSE: UWMC) is the parent company of United Wholesale Mortgage, the largest home mortgage lender in the U.S., known for its wholesale channel operations [6]. Merger Details - The merger agreement between TWO and UWMC was announced on December 17, 2025, where UWMC will acquire TWO in an all-stock transaction at an exchange ratio of 2.3328 shares of UWMC Class A Common Stock for each share of TWO common stock [4]. - The completion of the merger is contingent upon approval from TWO's stockholders and other customary regulatory approvals [4]. Special Meeting Information - The adjourned Special Meeting will be held virtually on March 24, 2026, at 11:00 a.m. Eastern Time, with stockholders encouraged to vote during the additional period [2][3]. - Stockholders who have already voted do not need to take further action, while those who wish to change their votes can do so using the provided instructions [3]. Proxy and Voting - Proxies submitted prior to the adjournment will be counted at the reconvened meeting unless revoked [3]. - The Board of Directors of TWO unanimously recommends that stockholders vote in favor of the merger, emphasizing the importance of each stockholder's vote [3].

Core Viewpoint - The stock market is experiencing volatility due to the ongoing Iran war, with Goldman Sachs highlighting potential investment opportunities despite the risks associated with high valuations and elevated oil prices [1][2]. Market Overview - The S&P 500 is projected to decline by as much as 19% in a severe oil price shock scenario where crude oil reaches $150, potentially dragging the index down to 5,400 [2]. - Year-to-date, the S&P 500 has decreased by approximately 3%, reflecting multiple risk-off events impacting investors, including a shift away from technology stocks due to AI concerns [2]. Investment Recommendations - Goldman Sachs is revising its investment recommendations in light of the challenging market environment, favoring secular growth stocks over cyclical growth stocks [3]. - The bank specifically recommends focusing on the materials and healthcare sectors, which have underperformed the broader S&P 500, with the materials sector up 15% and healthcare up 4% over the past year [4]. Sector-Specific Insights - **Materials & Healthcare**: These sectors are highlighted as having long-term growth potential, with a diminishing window for cyclical trades based on anticipated economic acceleration in 2026 [4]. - **Solar Stocks**: The solar energy sector is identified as a secular growth theme, expected to benefit from rising energy demand, particularly from data centers, amid increasing oil prices [5]. - The Invesco Solar ETF has risen by 7% year-to-date, outperforming the S&P 500's 3% decline [6]. - **Cybersecurity Stocks**: This sector has shown resilience, outperforming the broader software sector, which has faced significant declines due to AI-related concerns [7]. - The iShares Cybersecurity and Tech ETF has only decreased by 5% year-to-date, compared to a 17% drop in the iShares Expanded Tech-Software Sector ETF [8].

Oksenholt Capital Management Reports Major Freddie Mac Stake; Calls for Fannie Mae and Freddie Mac to Return to Major Exchange Mar 16, 2026 10:13 AM Eastern Daylight Time Oksenholt Capital Management Reports Major Freddie Mac Stake; Calls for Fannie Mae and Freddie Mac to Return to Major Exchange Share Affiliated investment vehicles hold more than 1 million shares across GSE securities, including in excess of 700,000 shares of Freddie Mac common stock SUMMERLIN, Nevada--(BUSINESS WIRE)-- Oksenholt Capital M ...

Core Insights - U.S. homebuilder sentiment has slightly improved in March, with the National Association of Home Builders/Wells Fargo Housing Market index rising to 38, although it remains below the neutral level of 50 for 23 consecutive months [2][9] - The increase in sentiment is attributed to lower mortgage rates at the beginning of the year, following government actions to expand mortgage-backed securities purchases [3] - However, rising mortgage rates due to geopolitical tensions and inflation concerns are creating headwinds for the housing market [4][10] Builder Sentiment and Market Conditions - The share of builders reporting price cuts increased to 37%, with an average reduction of 6%, while 64% of builders are offering sales incentives to stimulate demand [7] - Current sales conditions improved slightly to 42, and future sales expectations rose to 49, indicating cautious optimism among builders [8] - Prospective buyer traffic also saw an increase, rising three points to 25, suggesting a potential uptick in market activity [8] Economic and Regulatory Factors - Builders are facing elevated costs related to land, labor, and construction, with ongoing economic uncertainty causing many buyers to hesitate [5][10] - Recent executive orders from the Trump administration aimed at reducing regulatory burdens in housing construction are viewed positively, as they may help increase housing supply [10] - The administration's trade investigations and tariff policies continue to impact building material costs and labor supply, contributing to the overall challenges in the housing market [5][6]

Citigroup has hired Morgan Stanley banker Eric Farina as global co-head of infrastructure financing and capital solutions https://t.co/fmEXx3wJz9 ...

Core Insights - Gold remains a safe-haven asset but has been range-bound amid the ongoing Middle East conflict involving Iran, the U.S., and Israel [1] Group 1: Market Performance - SPDR Gold Trust (GLD) lost 1.5% last week, underperforming compared to SPDR S&P 500 ETF Trust (SPY), which fell about 0.6% [2] - VanEck Gold Miners ETF (GDX) experienced a decline of 5.3% last week [2] Group 2: Economic Factors - The U.S. dollar has strengthened, gaining 1.3% last week and approximately 3.6% over the past month, negatively impacting gold prices [3][4] - U.S. Treasury yields rose from 4.05% to 4.28% in early March 2026, limiting gold's upside as higher yields make interest-bearing assets more attractive [5] - Concerns about overvaluation are present, with GLD increasing by about 66% over the past year, leading some investors to be cautious [6] Group 3: Investor Behavior - During market stress, investors may sell safe-haven assets like gold to raise cash, which can temporarily pressure gold prices [7] - Major banks remain optimistic about gold's long-term prospects, with JPMorgan Chase predicting a price of around $6,300 per ounce by the end of 2026 and Deutsche Bank targeting near $6,000 [9] Group 4: Industry Challenges - Rising oil prices are negatively affecting gold miners' profitability, as 15-20% of their operating costs are tied to energy [8][10] - Gold prices dropped to $5,050 per ounce, indicating potential challenges ahead despite bullish long-term forecasts from banks [11]

Oil price volatility hits extreme levels as S&P 500 tracks crude tick by tick Proactive uses images sourced from Shutterstock Oil price volatility has reached levels not seen since the pandemic as markets grapple with the fallout from US and Israeli strikes on Iran, with equity investors increasingly caught in the slipstream. Implied volatility in oil options has climbed above 100% on a one-month basis, surpassing peaks reached during the Russia-Ukraine war in 2022 and approaching levels last seen during ...

Core Insights - nCino has launched a new feature called nCino Doc VOI powered by Argyle, aimed at improving the efficiency of income verification for lenders in the mortgage process [1][2] Group 1: Product Features - nCino Doc VOI automates the verification of borrower income, replacing the traditional manual review of paystubs and W-2s, thus enabling faster and more cost-effective income verification [2][4] - The feature integrates with Freddie Mac's AIM Check API, allowing lenders to submit document-derived income data for automated assessment early in the underwriting process [3] Group 2: Operational Efficiency - The introduction of nCino Doc VOI allows lenders to extend automation across their mortgage pipeline, qualifying borrowers earlier and reducing manual touchpoints without adding complexity [4] - The automation provided by nCino Doc VOI is expected to significantly reduce the operational intensity associated with income verification in mortgage lending [4] Group 3: Market Position - nCino serves over 2,700 customers globally, including community banks, credit unions, and large financial institutions, positioning itself as a leader in providing intelligent banking solutions [5]

Core Viewpoint - US stock futures are showing slight increases as investors prepare for a week filled with significant policy decisions and corporate earnings reports [1] Group 1: Market Overview - Investors are closely monitoring several notable companies in anticipation of their performance before and after Monday's trading session [1] Group 2: Federal Reserve - The Federal Reserve's upcoming decisions are a focal point for market participants, influencing investor sentiment and stock futures [1]

Group 1: Oil Market Dynamics - Oil prices have surged above $100 per barrel for Brent due to the ongoing conflict in Iran, with the U.S. attacking Kharg Island, Iran's main oil exporting hub [2][4] - The situation in the Strait of Hormuz remains critical, with mixed responses from countries regarding naval support for safe passage of tankers [4][5] Group 2: Central Bank Meetings - Central banks, including the U.S. Federal Reserve and the European Central Bank, are holding policy meetings this week, with a focus on the economic impacts of the Iran conflict [3][7] - The Fed is not expected to change interest rates but will be closely monitored for comments on inflation risks stemming from rising oil prices and a softening labor market [7][8] Group 3: Economic Indicators - Core inflation in the U.S. rose to 3.1% in February, while GDP growth for Q4 was revised down to 0.7%, highlighting the risks of higher inflation and slower growth due to the oil shock [8] - In China, retail and industrial production figures for January-February exceeded forecasts, but these figures were recorded before the recent spike in oil prices [9] Group 4: U.S.-China Trade Talks - U.S.-China trade talks are ongoing in Paris, led by Treasury Secretary Scott Bessent, but the discussions may be overshadowed by the Iran crisis [10]