Fannie Mae-No Politics (FNMA)

[skeptic7]

Hard to say it's covering going on. I just don't think Mnuchin did a whole lot this morning to cause PPS to jump, and clearly the market feels the same. Wednesday meeting with ICBA more of the same, we know where they stand so nothing to see there. In the absence of him saying the sweep was illegal and mis-appropriated and wer're going to end it, this is going to be the pattern until end of year.