Interest Rate Roundup

Wednesday, August 20, 2008

Follow the bouncing spread ball

The bailout debate for Fannie and Freddie continues to rage. But it's noteworthy that after big widening in the past few days against Treasuries, Fannie and Freddie debt yields are NARROWING against Treasuries today. Ten-year Freddie paper is tightening by almost 12 basis points to 74 basis points, for instance.


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