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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ldo79 who wrote (9407)	3/5/2004 10:10:26 AM
From: mishedlo	Read Replies (1) \| Respond to of 110194

Could this lead to some unwinding?: Actually the reverse. FNM has to prepare for more refinancings when they were hedged for rate hikes. Result: FNM is massively buying treasuries here (of all places). FNM rallies on this news. How stupid. I bet FNM last $1B today (if not more) Seriously. Mish

To: ldo79 who wrote (9407)	3/5/2004 10:31:10 AM
From: mishedlo	Respond to of 110194

From John Succo on GSE's and Treasuries Message 19882036

To: ldo79 who wrote (9407)	3/5/2004 5:20:37 PM
From: t4texas	Respond to of 110194

no, but just wait for short rates (2yr and less) to move up for some unexpected reason. all kinds of companies, speculators, and investors will have sand in their gear boxes. just the number of companies alone that have been conducting business with short term money for long term actions is amazing. those companies know who they are and when the crunch happens, it will look like a content-addressable memory for those companies, i.e., they will raise their hands and declare, "here i am and here is my problem."