Sam Dunlap Shares Insight into the Fixed Income and Housing Markets

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MBS: Mortgage-backed security.
RMBS: Residential mortgage-backed security.
S&P/Case-Shiller 20-City Home Price Index: The Index seeks to measure the value of residential real estate in 20 major U.S. metropolitan areas.

It is not possible to invest directly in an index.

Credit Quality ratings are determined by Moody’s, Standard and Poor’s or Fitch. Grades are assigned to bonds by private independent rating services and these grades represent their credit quality. The issues are evaluated based on such factors as the bond issuer’s financial strength, or its ability to pay a bond’s principal and interest in a timely fashion. Ratings are expressed as letters ranging from ‘AAA’, which is the highest grade, to ‘D’, which is the lowest grade. In situations where a formal rating has not been issued, the security is classified as not rated (NR). Additionally, common stocks, if any, are classified as NR.