Fannie Mae-Backed Munis Trading Down Since Negative Report

Fine, Jacob
November 2004
Bond Buyer;11/5/2004, Vol. 350 Issue 32005, p6
Trade Publication
Reports that municipal bonds that have been pre-refunded or escrowed to maturity using United States Federal National Mortgage Association (Fannie Mae) securities have been trading down in the months since a regulatory report in September alleged improper accounting at the private mortgage funding company. Concerns in the municipal market; Increase in yields on Fannie Mae-backed munibonds; Securities and Exchange Commission's investigation of Fannie Mae.


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