New York Fed sees strong demand for AIG mortgage bonds

04/14/2011 | Reuters

The Federal Reserve Bank of New York held its second auction of mortgage bonds it acquired through its aid package for American International Group. The Fed sold 37 of 42 mortgage bonds from the Maiden Lane II portfolio. "When I see only five bonds did not trade, and (bids) being strong relative to initial talk, I'd say it's a successful auction," said Dan Nigro, a bond consultant.

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