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JP Morgan analysts noted that "October CMO...>

US MBS
US MBS: JP Morgan analysts noted that "October CMO issuance came in at $13.7bn,
down 12% from September. In October, the Fannie, Freddie, and Ginnie shares of
issuance were 42% (vs. 29% in September), 31% (vs. 21%), and 27% (vs. 50%),
respectively."
- They add that "the floater share of October issuance was 19% (up 1% from
September), the PAC issuance share was 25% (vs. 28%) and the SEQ share was 24%
(vs. 28%). MHA issuance, specifically of under 125LTV collateral (both Fannie
and Gold), jumped to $2bn from $1bn in September. Both months were well above
the monthly average for the prior year of around $100mm."

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