
Mustafa Chowdhury on Mortgage Risks, Fed Shocks and Derivatives
Macro Hive Conversations With Bilal Hafeez
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The Mortgage Market Is Nationalized Right Now
The mortgage market is, in my opinion, is sort of nationalized right now. We got about $2.7 to $0.6 trillion of mortgages held by the Federal Reserve. What's left for anyone else? Maybe a trillion or a little bit above a trillion centsleft for the rest of the whole universe of asset managers and hedge funds.
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