Upping sticks

Upping sticks

Category: ABS RMBS

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Agency MBS crowding to boost esoteric ABS

The New York Fed's announcement last month that Operation Twist will target solely agency MBS took many by surprise (SCI 14 September). While the ramifications for the RMBS market are fairly obvious, the knock-on effects for less frequented asset classes are just as significant.

Structured credit consultant Dan Castro says the Fed's expected agency MBS purchases will force investors to look elsewhere.

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