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American Capital Mortgage Investment Corp. Message Board

  • reikreik reikreik Feb 12, 2013 6:40 PM Flag

    NOTE ABOUT AGENCY SPREADS - THEY HAVE INCREASED - BIG SURPRISE

    February 12, 2013, 12:59 P.M. ET.Mortgage-Backed Securities Yields at Six-Month High.
    EmailPrintsmaller Larger By Michael Aneiro
    LPL Financial‘s Anthony Valeri today points out that mortgage-backed security valuations have now reverted to levels last seen in early September.

    The average yield spread on government MBS increased to 0.62% last week, the highest since September 12, just before the Federal Reserve announced its third round of quantitative easing (QE3) and its expanded MBS purchase program. Refinance fears as well as concern over how long the Fed will repurchase MBS has led to wider yield spreads.

    “We remain neutral overall on agency MBS but still find the sector the most attractive government bond option,” Valeri writes, noting that the average MBS yield of 2.6% is now at a six-month high.

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