MBS: Slow and steady


The Absolute Return Mortgage Backed Index continued its steady climb, gaining 0.72% in October to bring its YTD return to 7.83%. Those results are below the AR Composite's 1.41% climb for the month and 8.49% total for the year. But October does continue the strategy's unbroken streak of positive monthly performance going back to August 2003. Braddock Financial's Mortgage Opportunity Fund VI put up 1.10% in October, bringing its YTD to an impressive 16.64%. MKP Capital Management's MKP Credit II LP earned 1.17%, up 8.36% YTD, and Michael Vranos's New Ellington Partners posted a 0.76%* return for a