MBS- FNMA 4.5 price: Up to 101-05

10-yr Treasury price: Up to 100-30

Well… guess it’s better than getting evicted:

Mortgage giant Fannie Mae said Thursday that it would throw a lifeline to some people losing their homes to foreclosure by allowing them to lease those properties back for up to a year at market rental rates.  Continue reading…

I think this story is significant for the finance biz:

On the 10th anniversary of Congress voting to repeal the law that had long separated Main Street commercial banking from Wall Street investment banking, current members of the body are talking about ways to potentially bring it back.

A return to the Depression-era law — known as Glass-Steagall — is now being seriously discussed. Some leading economists and financial thinkers point to its repeal as a precipitator of the current crisis, because it enabled banks to become “too big to fail.”  Continue reading…