Comments from Barney Frank, covered by Bloomberg, suggesting bondholders in the government-sponsored enterprises (Fannie and Freddie) are not guaranteed by the government could rein in market risk…
Also potentially prompting concerns are reports that the GSE’s may force banks to buy back up to $21 bln in lousy mortgages.
No sign of it yet, however as EUR/JPY races skyward, now at 123.12