Fannie Mae-No Politics (FNMA)

[Potty]

Amelia, well you are right.

And it seems pretty obvious nothing good can happen during the crisis -- though *perhaps* nothing bad either. (Though they could do another bailout and eliminate private holders which essentially preserves status quo without mortgage market caring imho)

So stasis till July, or probably November... and I don't trust Calabria.

PLUS What if Trump has a heart attack, or dies of CV, and you get President Pence -- he has no obligations to campaign backers and is party-line Republican and anti-GSE...

Way, way, too many risks near term, with no positive triggers -- SOOOO dead money