HF Manager Skyler Weinand on Tariffs & The Housing Market – Lumida Wealth : Non-Consensus Invest Beyond the Ordinary

Key Insights

$AGENCYMBS - Agency mortgage-backed securities are attractive due to their high yield, with Fannie Mae, Freddie Mac, and Ginnie Mae debt offering around 5.5% yield.
$FLOATDEBT - High-quality floating rate debt is beneficial if interest rates increase, particularly if 5-10 year treasury yields rise back to around 4.5%.

$IMPORTERS - Tariffs are significantly impacting importers' profit margins, potentially turning positive margins negative.
$USSTOCK - The US stock market has lost significant value, comparable to a direct tax, indicating potential further downside.
$CONDISC - Weak consumer spending is expected, leading to a recession, higher unemployment, and lower earnings.
$REGBANKS - Smaller banks (under $5 billion) are still recovering from 2022 bond write-downs, with ongoing challenges expected.
$CRE - Commercial real estate faces challenges due to higher refinancing rates, with banks no longer accepting lower interest rates on loans.