Fannie Mae-No Politics (FNMA)

[imbellish]

My framework for understanding stock prices is that they move on two things and two things alone: accrual and speculation. This statement of hers was to Congress so we have to assume it's true. Hopefully what the market is now articulating is that it's no longer in speculative territory and we've started to conservatively accrue for 2024 - notwithstanding whatever comes out of the courts.