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Agency spreads end week narrower; Bernanke fails to provide stimulus tools in Friday speech
By Lisa Kerner
Charlotte, N.C., Aug. 26 - Agency spreads ended the day and week 2 basis points to 3 bps tighter across the curve, according to a trader.
Another trader called spreads "solid in agencies." He noted very low liquidity on the offered sides, with no bonds getting hit on the sell sides.
Earlier in the week some traders expressed concern over what Federal Reserve chairman Ben Bernanke would say in his speech on Friday at the Federal Reserve Bank of Kansas City Economic Symposium in Jackson Hole, Wyo.
Bernanke did not offer up any specific stimulus tools and called on the United States to improve its financial decision-making process to include transparent budget tools.
The Federal Open Market Committee will discus its forward guidance and discuss possible stimulus tools at its meeting to be held on Sept. 21 and Sept. 22, Bernanke said.
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