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Fannie Mae, Freddie Mac Rally on Mnuchin, Court Victory

  • Shares of both gain more than 20%, to highest level in years
  • Mnuchin sees deal to retain earnings; due to testify Tuesday
Updated on

Shares of Fannie Mae soared as much as 27% in early Monday trading, to the highest intraday since February 2017, while Freddie Mac rose as much as 26%, after Treasury Secretary Steven Mnuchin said he expects a deal on the companies retaining earnings soon and as shareholders prevailed in a court ruling.