NY Fed Buying More 5.5s MBS

The NY Fed established its Agency Mortgage-Backed Securities Purchase Program to prop up mortgages and their liquidity. The NY Fed seems to be shifting its purchases in the coupon stacks, from 5s to 5.5s -- a few months after another purchase shift, from MBS with 4.5% coupons to MBS with 5%-coupons. Given the amounts, the Program could move the markets in these different segments.


(Source: NY Fed, dataforthoughts. Click to enlarge.)