The 12 Days of Hedging

Circulating via MBS trading desks this afternoon, enjoy!

On the 12th day of hedging, my true love gave to me: 12 Investors suing 11 Brokers beeping 10 Traders weeping 9 Originators selling 8 Dealers standing 7 Bonds I’m bidding 6 Regulators sleeping Offer 5’s to Beijing 4 letter words 3 half days 2 OJ gloves And a 4 trading at par + three

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