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was hotlinktuna

11/24/04 10:45 AM

#326250 RE: westpacific #326243

Pretty scary scenario west looking out several months! But, I think you're right...tuna
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11/24/04 10:49 AM

#326254 RE: westpacific #326243

westy, FNM has been the sleeper short in the homebuilder arena... thx for the reminder. It makes some nice moves;-)
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ardent jd

11/24/04 11:01 AM

#326267 RE: westpacific #326243

Rates must indeed go higher...eventually. When that happens, look for the dollar to rally sharply, beause it is a fundamentally undervalued currency.

If rates "explode to the upside", FNM's derivatives and capital issues go away....not so sure higher rates are all that bad for FNM.