Agency spreads tighter, long end better by 2 to 4 bps

By Lisa Kerner

Charlotte, N.C., April 27 - Agency spreads were tighter "across the board" on Monday, a source said.

The long end, the eight- to 10-year sectors, were tighter by "2 to 4 basis points," according to the source.

The Federal Reserve's purchases of agency debt - approximately $60 billion worth in the last couple of months - is encouraging and provides "a good bit of support," said the source.

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