Trade Matrix: Merrill Lynch — MBS

Published May 2, 2003 12:00 AM EDT 1 Min Read

Recommends taking profits in IO trades. Two weeks previous analysts addressed three issues in the IO market. These are: that IOs outright had cheapened and looked attractive, that synthetic premium trades were likewise attractive, and that within the higher coupon IOs analysts preferred owning 328s over 332s and 321s. Over the past two weeks or so, all of these trades have performed well and the analysts recommend taking profits.

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