Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

JP Morgan are buying the ATS1 for 1 to 2 cents on the dollar and selling them for 5 cents on the dollar.

I think at 1.85 for $25 of Fannie Mae FNMAS is approximately 7 cents on the dollar.

https://www.bloomberg.com/news/articles/2023-03-20/jpmorgan-bnp-quote-risky-credit-suisse-bonds-at-just-above-zero?leadSource=uverify%20wall

JPMorgan, BNP Quote Risky Credit Suisse Bonds At Just Above Zero

Dealers including BNP, BTIG, Jefferies, GS are making markets

Market participants look at whether bonds may have value

"Risky Credit Suisse Group AG bonds that are set to be written down to zero by regulators were being quoted at prices of a few cents on the dollar on Monday, according to people with knowledge of the matter.

Dealers including JPMorgan Chase & Co. and Morgan Stanley are willing to buy risky Credit Suisse debt known as additional tier 1 bonds, or AT1s, for somewhere around 2 cents on the dollar and sell somewhere around 5 cents as of early afternoon on Monday in New York, according to the people. The Swiss bank said on Sunday that the bonds would be written down to zero as a condition of the rescue of..."