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Kathy Jones: The Bull Case For Bonds, And The Need For “Caution” on Private Credit & Leveraged Loans

Forward Guidance

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The State of Mortgage-Backed Securities and the Need for Caution

This chapter discusses the cheapness of mortgage-backed securities relative to investment-grade spreads, cautioning investors about the importance of careful consideration due to convexity and liquidity issues, as well as the uncertainty of prepayment estimates and market pricing.

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