Bill Gross says they've been buying 30-year agency backed mortgages

Tuesday, March 18, 2008

	Bill Gross says a good investor gets in front of policy, and while the govt may not be buying mortgages over the next few weeks, FNM and FRE may be (due to their increased authority), so they're (PIMCO) buying 30-year agency backed mortgages -- because that will be the asset de jour once Congress gives them the authority to move beyond those capital limitations. This is what the market wants