2009 Forecast Part III: Agencies and MBS - Back Door Huh?
January 15, 2009 at 23:34 PM EST
For the rest of the 2009 Forecast series, click here. I lump agency debt and MBS together because both are basically wards of the state at this point. They are also the best example of Quantitative Easing working that we have so far. 5-year bullet GSE debt (that is, non-callable) has declined in spread from about +150 [...]