DOW JONES NEWSWIRES
NEW YORK (Dow Jones)
Fannie Mae (FNM) on Tuesday announced the sale of a three-benchmark bonds on Tuesday.
The issue comes at a time when investors are looking for safe-haven bids, and is expected to sell rather quickly.
Supply of these debt securities from the government-sponsored enterprises has been reduced in the past few months. The mortgage finance companies have enough cash to meet their mortgage bond purchasing needs, and what they need they have been able to raise mostly through issue of discount notes thus limiting benchmark note issuance. The price talk on the three-year bond is at 24.5 basis points over comparable Treasury yield, and is expected to be sold Wednesday. The size of the deal is to be determined.
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