Fannie Mae-No Politics (FNMA)

[whipstick]

the point is again that rates across the term structure are all historically low in the US - negative in some places - thanks to trillions of CB asset buys. Which is why your textbook explanations aren't helpful to me. I understand how the model is supposed to work.

I don't understand how you can advocate it in the face of massive intervention from CBs. That is all.