Fannie Mae, Freddie Mac Stock Jumps on Renewed Hope of Freedom -- WSJ

Dow Jones09-13

By WSJ Staff

Shares of Fannie Mae and Freddie Mac surged Friday, after The Wall Street Journal reported that Donald Trump's allies were drawing up plans to end their government control if Trump wins the presidential election.

The government's stakes in Fannie and Freddie could be valued in the hundreds of billions of dollars, bankers estimate. That could allow the government to sell more than $100 billion of securities in one swoop, some bankers say.

Fannie's common stock rose about 9% while Freddie's was up more than 7%.

Dig deeper:

Trump Allies Are Working on Plans to Privatize Fannie and FreddieA deal would call for the government to try to sell a chunk of its holdings in the mortgage giants to investors, including sovereign-wealth funds.Read the full article

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

September 13, 2024 10:50 ET (14:50 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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