"The agencies are such large and complex hedging machines, they're going to issue something attractive to them for some reason, and not to give me 40bps because I'm a nice guy."--Chris Mahony, portfolio manager at J. & W. Seligman in New York, on the government-sponsored enterprises and decisions they consider before selling debentures.
"The agencies are such large and complex hedging machines, they're going to issue something attractive to them for some reason, and not to give me 40bps because I'm a nice guy."
