Fannie Mae-No Politics (FNMA)

[Nelson478]

We're 50% pref and 50% common. We notice on days when FNMA and FMCC drop the preferred go up a little. When FNMA and FMCC go up, the preferred drop a little. But overall, both pref and common have gone up nicely since November 2018. Clearly there is a soft link being used by the traders.