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

To: Ramsey Su who wrote (36743)	7/23/2005 12:46:26 PM
From: russwinter	Read Replies (2) \| Respond to of 110194

Who is buying MBS? It's certainly not the banks and the GSEs as they've been selling: to hedge funds, FCBs and Pirates of the Caribbean? H8, bank holdings of MBS: 03/23/2005 485.2 03/30/2005 470.5 04/06/2005 467.6 04/13/2005 458.2 04/20/2005 469.6 04/27/2005 463.6 05/04/2005 460.6 05/11/2005 455.7 05/18/2005 460.3 05/25/2005 457.1 06/01/2005 458.3 06/08/2005 456.8 06/15/2005 397.4 06/22/2005 453.2 06/29/2005 452.1 07/06/2005 447.0 07/13/2005 444.2 From page 17 WSE's Weekly Money and Credit, wallstreetexaminer.com An 8k by FNM at the end of June showed that in May Fannie reduced its retained portfolio by a whopping $23.8 billion ()versus $14.7 billion in April, and $10.4 billion in March. Since October, Fannie has spewed out $87.1 billion in assets. Freddie also has a shrinkage problem but not to the same extent. It's total retained portfolio is up 1% since October, and is now 81% the size of Fannie () change in FCB custodial holdings, totals 26.76 billion, what a co-inki-dink: 5-5: +7,275 5-12: +3,718 5-19: +4,326 5-26: +647 6-2: +10,794 Last seven weeks FCB agency purchases have slowed some, up 12.627 billion. Updating Boiling a Happy Frog: wallstreetexaminer.com Rates move 20 bp higher, and real estate lending explodes, go figure? No wonder everything looks so counterintuitive and perverse. Borrowing more to service old debt? 06/29/2005 2724.6 07/06/2005 2744.7 07/13/2005 2762.0