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Barclays: Buy FNCL 6.5, sell FNCL 5.5

I investors should buy FNCL 6.5 while selling FNCL 5.5, duration hedged with 10-year swaps, Barclays Capital analysts said last week. They also suggested for buyers to unwind existing FNCL 5.5/FNCL 6 trades.

Analysts noted that housing market weakness is currently a major concern for many MBS investors. Recent...

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