Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: russwinter who wrote (10217)	8/6/2004 10:21:36 AM
From: mishedlo	Read Replies (1) of 116555

FNM is getting killed today No it is not reflected in the price but every time there is a mammoth move in treasuries FNM has to re-adjust Furthermore John Succo at Minyanville thinks as do I that FNM was primarily hedged for rising yields. Now they had to take a massive hit on that today unless Greenspan gave them advance numbers. Now they will be positioning for more refis. Thing is, if home prices stall there will not be more refis regardless of how low we go. FNM was screwed today and the idiots go out and buy FNM. FNM lost a fortune today. How long can they go without disclosing their book? Why do idiots keep buying this stock? Mish

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