Agency spreads tighten, widen; no new supply on the horizon

By Lisa Kerner

Charlotte, N.C., April 28 - Agency spreads tightened overnight and then widened back out to "about where they ended" on Monday, said a source.

There was no particular factor driving the movement, he added.

The widening varied from 2 to 4 basis points "depending on the sector," said the source.

According to the source, no new supply of agency debt is expected and "a big supply of everything" exists.

The source believes buying may have slowed because of current "unbelievably tight levels."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.