FNMA and FMCC: Changing Risk vs Reward

Updated thoughts and positions with Fannie Mae and Freddie Mac.

Fannie Mae (FNMA) and Freddie Mac (FMCC) have performed extremely well this year.

The following is a quick update on my thoughts and actions, including based on the most recent comments by the administration.

I will also start a new thread in the Substack Chat for additional discussion.