December 31st, 2008 11:08 am | by John Jansen |

Markets are quiet but I have received one note which said that MBS are about 1/2 point tighter Treasuries.

Participants in that sector are grappling with the details of the soon to be real Federal Reserve purchases. They announced that they will wave in $500 billion by the end of June and they would enter the market in early January.

That is a substantial ongoing bid and will keep the market well bid.

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