CMO Market Update

September 17, 2018

This week we will focus on structure highlights so you can compare and contrast bonds similar to those we saw customer interest in last week. As usual (always?), we continue to see interest in front cashflow sequential structures (Highlights 1 and 2). Also, VADM structures remain very popular as they continue to look relatively valuable on a spread basis (Highlights 3 and 4). Lastly, if you missed the “August Trade Summary Analytics”, it is available here.


Structure Highlights


Educational Opportunities

9-18 (Tomorrow) Banks: Mortgage Market with a Focus on CMOs

9-20 (Thursday) Credit Unions: Mortgage Market with a Focus on CMOs


I appreciate when you guys email and let me know what you find more or less helpful. Also, I’m an email away if you want to see something custom offline, for example you have a grouping of bonds you would like to compare in the same format below.

Kevin A. Smith, CFA

Manager, Strategic Analytics

Vining-Sparks IBG LP

The information included herein has been obtained from sources deemed reliable, but it is not in any way guaranteed, and it, together with any opinions expressed, is subject to change at any time. Any and all details offered in this publication are preliminary and are therefore subject to change at any time. This has been prepared for general information purposes only and does not consider the specific investment objectives, financial situation and particular needs of any individual or institution. This information is, by its very nature, incomplete and specifically lacks information critical to making final investment decisions. Investors should seek financial advice as to the appropriateness of investing in any securities or investment strategies mentioned or recommended. The accuracy of the financial projections is dependent on the occurrence of future events which cannot be assured; therefore, the actual results achieved during the projection period may vary from the projections. The firm may have positions, long or short, in any or all securities mentioned. Member FINRA/SIPC.
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