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U.S. mortgage bonds hold gains after details on Fed balance sheet plan
June 14, 2017 / 6:29 PM / 3 months ago

U.S. mortgage bonds hold gains after details on Fed balance sheet plan

NEW YORK (Reuters) - Prices on U.S. mortgage-backed securities clung to their earlier gains on Wednesday after the Federal Reserve signaled it planned to reduce its reinvestments in Treasuries and MBS later this year in a bid to shrink its $4.5 trillion balance sheet.

At 2:22 p.m. EDT (1822 GMT), the price on 30-year, 3.5-percent coupon MBS guaranteed by Fannie Mae USFN3035=RR was up 10/32 at 103-12/32 with its yield at 3.007 percent, down 5 basis points from late on Tuesday.

Reporting by Richard Leong; Editing by Chris Reese

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