Mortgage Credit News by Louis S Barnes

This is really fascinating. If the fed was going to swoop in and buy mbs then I'd shrug this off. But the fed is 4 days a way from its first mbs roll off in many many years, ie the opposite direction.

The fed is closer to capitulating then people think. Almost certainly this year, maybe next quarter.

When they do, the musical chairs stop and the chairs are hard assets.