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Ginnie Mae bonds will cheapen up in the long run, UBS says

Though Ginnie Maes have been trading at the richer end in recent months, a report by UBS Warburg said that they have reached their richest levels, and would eventually cheapen up.

"We don't believe that GNMAs can richen further," said UBS. "So while GNMAs could remain rich' for the...

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