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The Elliot-backed manager doubles down on research and expertise to confront market challenges, including tight arbitrage and a looming 2028 debt maturity wall.
As the AI borrowing spree keeps accelerating, the spillover effect is playing a growing role by taxing the market's ability to absorb so much debt.
The company's affiliate has been issuing non-QM deals that include a small percentage of second liens, some of which also involve alternative documentation.
First-loss risk prompts Ellington's migration to the mezzanine level, although some secondary-market equity gets thumbs up.
Greenspan's 18 years as Fed chief, from 1987 until his retirement at the start of 2006, were marked by a stock market boom and low unemployment.
