DC politicians want to enact harmful credit card mandates that could take away your cash back and rewards points.

Perks that stretch your budget and make life a little easier.

Losing these benefits means less money for your family's everyday essentials like gas and groceries.

The perks you rely on could disappear, leaving you with higher costs and fewer

options. Tell Congress to guard your card and oppose the Durban Marshall credit card mandates.

Paid for by Electronic Payments Coalition. I could see a scenario over the next six, 12 months,

where I think mortgage rates could easily be 100 basis points lower than they are today. Why?

Well, because I think the Fed's going to cut a little more aggressively than the market's pricing in,

but I also think that mortgage spreads will compress from here as well.

Hello and welcome to the Barron Streetwise podcast.

I'm Jack Howe, and the voice you just heard is Andrew Sizerowski.

He's the Strategic Income Portfol portfolio manager at Morgan Stanley Investment Management,

and in a moment he'll explain what's next for mortgage rates and why for investors,

mortgage-backed securities look attractive. We'll also look at the wild ride recently in shares

of Elf Beauty, and we'll hear from that company's CEO and a top Wall Street cosmetics analysts.

Listening in is our audio producer, Alexis Moore. Hi, Alexis. Hey, Jack. I'm going to do my best here. I'm going to put on a brave face.

I do have a mild burn on the tip of my tongue. I got too aggressive recently with some corn on the

cob. What happens is you pull it out of boiling water and a corn on the cob will hold its heat

for a long time. But, you know, corn's delicious. So there's always a, it's always a difficult standoff where you got to wait long enough to not burn yourself, but you don't want to wait too long because you can't wait to get into that corn. And I didn't wait long enough. But I'm going to push through. Please don't call me a hero. Now, I want to talk about elf beauty. You are familiar with this company's products, correct? Yes, elf eyes, lips, and face. Right. It's a little E, little L, little F. Right, very Gen Z. But then a capital B on beauty. It's the name, if I'm being honest, it's like being as much of a pain in the neck with, you know, somebody having to write that name as possible. But we'll give them a pass for that.

If you look at the chart of this stock, this thing has been public since 2016, and this is a

stock chart that would scare off a meme coin trader. This thing has been wildly volatile.

But depending on when you bought it, you might also have made

...