Dear Parents, don’t expect your homebuying Millennials to pay you back

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Investments / The Ticker

Bond markets stand ground after fiscal cliff deal

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The biggest relative winner is mortgage-backed securities, which aren't even remotely close to their recent lows of 104-04 on December 18th (when Cliffy optimism was at it's highest).  

After shaking off the morning volatility, Fannie 3.0s have been grinding against their highs of the day at 104-20 without suggesting much risk of revisiting morning lows of 104-13. 

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