Agency Market

February 28th, 2008 2:21 pm | by John Jansen |

 Agency spreads opened tighter as duration buying infected this sector ,too, but faded as the day progressed. Two year paper is about unchanged on the day while 5 year and 10 year spreads are about 2 basis points wider.

Dealers report some selling in the front end as absolute yield levels approach zero and selling in the longer sectors as credit concerns spook holders.

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