Olha lá, alguma coisa de novo nisto (do que conversámos da última vez), ou é a mesma investigação?
É que esta e a "outra F.M." controlam, como sabes, 2/3 da dívida norte-americana de imobiliário (que hoje em dia inclui grande parte do consumo, como também sabes, dos três últimos anos - Refinanciamentos).
O mercado, como é normal nos pistoleiros, reagiu à altura...
Fannie Mae Bond Spreads Widen on OFHEO Report Uncertainty
"NEW YORK (Dow Jones)--Risk premiums over Treasurys on Fannie Mae (FNM) bonds are being quoted between half to one basis point wider Wednesday after Fannie Mae said the Securities and Exchange Commission had launched an informal inquiry into issues raised in a report by the Office of Federal Housing Enterprise Oversight.
"The agency market is reacting but not overreacting," Jim Vogel of FTN Capital Markets said in a research note.
Fannie Mae's 4.125% notes maturing April 2014 were bid at 44 basis points over Treasurys Wednesday compared with 43.3 basis points over Treasurys late Tuesday.
Fannie Mae's board said Wednesday in a written statement that OFHEO, its regulator, had determined the government sponsored housing enterprise had employed accounting techniques to smooth its earnings.
In the report OHFEO raised "doubts concerning the validity of previously reported financial results," the board statement said.
The board was briefed earlier this week on the contents of the report.
"Our best read is that the market could be in information limbo for some time, " FTN's Vogel wrote.
Fannie Mae's management and auditors may disagree with the OFHEO conclusions, but it's likely the market won't hear from them until Fannie Mae's board completes its review of the situation, Vogel added."
-By Christine Richard, Dow Jones Newswires; 201-938-2189; christine.richard@ dowjones.com
Dow Jones Newswires
09-22-041100ET
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