Current coupon agency mbs, breaking down 'current coupon'
Bond markets had an uneventful overnight session until just before the start of domestic trading hours.
But the first sale will have to be made to senior management. If an investor is looking to purchase a par bond or below, either a current coupon or a discount, they need to look at the zero prepay experience because that would equate to the absolute minimum yield that an investor can expect.
The practice of trading new pools TBA enlarged quickly to include existing pools, permitting dealers to sell pass-throughs in response to investor inquiry without owning or having to quickly buy them from another investor or dealer. It also follows that pool numbers would not be known.