Government-backed mortgage bonds are underperforming Treasuries by the most this year, after reaching record high prices, amid concern refinancing will accelerate. Fannie Mae, Freddie Mac and Ginnie Mae securities have returned 24 basis points, or 0.24 percentage point, less than US debt this month, the worst relative results since December, Barclays Capital indexes show.
Mortgage bonds slump on ‘mega-refi’ concern: Credit Markets
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