Amherst Securities Group (ASG) analysts reviewed three categories of 5/1 hybrids with different interest-only terms, including non-IO, five-year IO term and 10-year IO term in a report released this afternoon.

The article, ASG analysts said, was prompted by some investors ignoring differences among hybrids with different IO terms. Others, on the other hand, will not even look at bonds that are backed by a considerable amount of 10-year IOs.

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