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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Ramsey Su who wrote (1517)	10/16/2003 2:05:37 PM
From: russwinter	Read Replies (2) of 110194

Snow today on GSE's. I don't know how much clearer he could have been. Obviously, the market is pricing GSEs with the implied guarantee though. I really believe there is a move a foot to slow GSE growth. The market is too crowded for both the Treasury and GSEs. The spread should widen.: Reuters US's Snow--Must guard against perceptions on GSEs Thursday October 16, 11:35 am ET WASHINGTON, Oct 16 (Reuters) - U.S. Treasury Secretary John Snow said on Thursday it is important to guard against the perception that government sponsored enterprises, such as mortgage giants Fannie Mae (NYSE:FNM - News) and Freddie Mac (NYSE:FRE - News), have a government guarantee. "We need to be on guard against this perception, it is a perception, it's not a reality, of an implied guarantee," Snow said in response to a question during testimony to the Senate Banking Committee.

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