EFTA Document EFTA01385948

27 March 2015 US Fixed Income Weekly The housing market looks likely to keep improving over the next two or three years while still punching below its historic weight in GDP. Reduction in supply and an increase in household formation look most likely to keep things on the mend. Credit looks less likely to change. And for investors in MBS, that means supply generally running below the pace that built the $5.4 trillion market outstanding today. (mime Moe RV it:yr-Aired Selling short TBA G