A step too far?

Can mortgage-backed securities (MBS) travel to a wider market? Demand for mortgages is now so high that lending institutions are having to work hard at sourcing fresh funds to lend and serious bond investors in the US have long been piling in, obligingly, with their cash. making a statement The outstanding investment performance of MBS has raised the eyebrows of Standard & Poor"s (S&P"s) fund analysts. In an annual review of US dollar fixed interest investment funds, published in the summer, they say: "Conventional wisdom has it that MBS typically do well in an increasing interest ra...