Fannie Mae-No Politics (FNMA)

[Sogo]

Exactly. I posted about macro stuff today but fnma will move on earnings in aug mostly, then on political decisions (if any) after that, then on macro data. Even in bad macro times (like, say early 90s recession), look at fnma's pps (in the $20 range in 1990s $). So, if the eventual political news is at all reasonable, resulting in some remaining value for commons, FNMA pps will eventually increase a lot. In the meantime, we'll hopefully see a pps boost as Aug earnings report arrives.