Issuance, and Spreads, and the Fed, oh my...:The MUFG Global Markets Podcast

In today's episode, MUFG Head of Prepayment Modeling and Strategy Glenn Schultz reviews April’s prepayment data, issuance trends in the agency MBS market, and the Federal Reserve’s MBS portfolio run-off. He discusses how the confluence of the Federal Reserve’s interest rate policy, balance sheet run-off, and issuance and prepayment trends inform MUFG’s ‘old normal’ thesis for the agency MBS valuations and the current coupon spread.

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