Swaps and Agencies

February 27th, 2009 1:18 pm | by John Jansen |

Swap spreads are manifesting very small changes today. Two year spreads are tighter by a basis point and 5 year spreads are flat. Ten year spreads are tighter by one and 30 year spreads are flat.

 

Agency spreads are wider by 2 basis points in the 2 year sector and 3 basis points wider in the 5year and 10 year sectors.

 

There is a story extant that FDIC is widening the scope of its TLGF program and prospective issuance from that venue has weighed on the agency market.

 

 

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