Countrywide will not meet 2003 analyst estimates - 2004-01-12
Mortgage lender Countrywide Financial Corp. revealed on Monday that its 2003 earnings would not meet Wall Street expectations, citing the impact of interest rates on the portfolio of loans that it services.

Shares of Countrywide fell 3.7 percent in early morning trading, but by afternoon were off 1.3 percent. Countrywide both originates loans and services loans.
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U.S. mortgage bond market continues on - 2004-01-12
The "carry trade", one of last year's big plays in the $5 trillion U.S. mortgage bond market is expected to be an important feature of 2004's trade as interest rates are seen likely to stay near their historical lows, analysts and investors said.

"It's too early to abandon it," said Ron D'Vari, head of bond research at State Street Research & Management Co. in Boston, which manages $26 billion in bonds.
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