Bloomberg Intelligence Fannie, Freddie to Keep US Guarantee If Taken Public, Trump Says
May 28, 2025
The discussions kick off with Trump asserting that Fannie Mae and Freddie Mac will keep U.S. guarantees even if they go public, a move that could reshape the housing market. Analyzing retail earnings, Macy's exceeds expectations while Abercrombie & Fitch boosts its outlook, offering insights into consumer trends. In the automotive world, Stellantis faces a leadership shake-up as they bring in a new CEO to navigate challenges amid a turbulent market. The podcast dives into the evolving economic landscape, touching on tariffs and the electric vehicle sector's hurdles.
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Government Mortgage Market Support
- The U.S. mortgage market benefits from government involvement, supporting unique products like 30-year fixed-rate notes.
- However, the government should apply narrow, explicit limits after lessons learned from 2008.
Macy's Sales and Tariff Impacts
- Macy's refreshed stores show improving sales, with luxury units like Bloomingdale's and Blue Mercury performing well.
- Tariff impacts are manageable, about 20 to 40 basis points for the year.
Macy's Store Reduction Plan
- Macy's plans to reduce its store footprint from about 500 to 350 stores over time.
- Store closures are currently paused due to real estate market conditions.