<div id="readability-page-1"><div><div><p><em>Authored by Michael Ball, Bloomberg macro strategist,</em></p><p>President Donald Trump’sdirectivefor Fannie Mae and Freddie Mac to buy $200 billion of agency MBS is supportive for Treasuries at the margin, but it also <strong>increases traditional mortgage hedging dynamics in rate markets.</strong></p></div></div></div>

房地美

房利美

<p>作者：迈克尔·鲍尔，彭博社宏观策略师。特朗普总统指示房地美和房利美购买 2000 亿美元的机构抵押贷款支持证券，这在一定程度上对国债形成支持，但也增加了利率市场中传统抵押贷款对冲的动态</p>

房利美和房地美购买 MBS 增加了利率波动的尾部风险