Wednesday, September 2, 2009

UK RMBS at +165 bps?

Surely that number is wrong...

from Bloomberg:

The yield over benchmark rates that investors demand to hold top-rated U.K. five-year mortgage-backed securities shrank 0.3 percentage points over the last month to 1.65 percentage points, JPMorgan data show. That’s near the narrowest spread, or gap, since July 18, 2008, and is down from as wide as 4.25 percentage points on Jan. 2, according to JPMorgan.

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