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The agency residential mortgage-backed securities space is on edge following Federal Reserve Chairman Ben Bernanke's testimony to Congress' Joint Economic Committee, analysts said. Bernanke addressed the Fed's plans to taper its bond-buying program to stimulate the economy
"The market knows the Fed needs to leave. It's all about timing. Is it next month? In six months? The end of the year?" Brian Ye, agency RMBS analyst at JPMorgan, asked, referring to the Fed's eventual exit from its third round of Quantitative Easing. A discrepancy between the feel of Bernanke's treatment of the question compared to that of the Fed's president, William Dudley, in a testimony at...