Mortgage securities stare down end of QE3 as rally persists
Market defies forecasts for slump tied to wind-down of Fed's stimulus programme
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New York
THE end of the Federal Reserve's third round of bond purchases is proving to be a non-event for mortgage-backed debt.
That's partly because even though the US central bank won't be adding more home-loan securities to its balance sheet, policymakers will still be buying enough to prevent its holdings from shrinking.
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