madasiwannabe

Freddie, Fannie: Debt-Ridden, But Their Bonds Are Worth Holding

Why is nobody talking about the mass refi that's underway? Fannie and Freddie are cleaning out their portfolio's with refi's and most of those are getting picked up by FHA.

Bill Gross was double talking yesterday. He was talking about not buying bank CDO's but letting everyone believe he was talking about the GSE's. He's buying up GSE notes like crazy because of the increased credit spreads. Maybe he thinks letting it go would get him an even better spread at the next auction.