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Agency spreads tighten, widen; no new supply on the horizon
By Lisa Kerner
Charlotte, N.C., April 28 - Agency spreads tightened overnight and then widened back out to "about where they ended" on Monday, said a source.
There was no particular factor driving the movement, he added.
The widening varied from 2 to 4 basis points "depending on the sector," said the source.
According to the source, no new supply of agency debt is expected and "a big supply of everything" exists.
The source believes buying may have slowed because of current "unbelievably tight levels."
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