Fannie Mae-No Politics (FNMA)

[javachip]

Clear sailing through earnings

This looks to be all we could have hoped for. I expected a tough four days for us this week and the PPS definitely had its ups and downs - but after all the dust cleared and with all the F&F events this week, we look very strong going into earnings.

Tomorrow is a Friday (typically a short cover day) and EOD momentum today was definitely on the positive side. I'd hope for good solid growth tomorrow.

The house is on recess for a couple weeks.

The senate banking committee has a meeting on Tuesday about Small Lender access (unimportant)

In my opinion the only news we'll be hearing over the next several days will be two major earnings releases and some possible housing data - and we'll know how close to Net Zero each GSE is (and whether or not Freddie uses it's DTA).