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To: yard_man who wrote (118239)8/24/2001 1:53:18 PM
From: Joan Osland Graffius  Read Replies (1) | Respond to of 436258
 
tippet,

This was in the Merrill Lynch fixed income write up last week.

"Mortgage-Backed: What Else Could Go Wrong?

The market rally coupled with widening agency spreads caused a dramatic widening in mortgages this week. Adjusting for the curve, mortgages are at their widest level of the year relative to swaps."

Joan