The New York Federal Reserve has circulated the sixth list from its Maiden Lane II portfolio.

The bid submission deadline is next Tuesday. For further information, please click on this link.

To date the Fed has circulated five lists with asset sales typically ranging from $1.5 billion to $2 billion per week.

An estimated $20 billion in asset sales are left to be done, according to Jesse Litvak, a managing director at Jefferies & Co.

As a result, said Litvak, the sales are likely to keep things quiet in the non-agency RMBS market, at least for the short-term.

"I firmly believe that subprime will remain a buyer's market for the better part of those 11 weeks, and then once this is behind us, the market can get back to being more active," Litvak said. "Right now, the flows are spotty, and bid offer spreads are as wide as they have been all year."

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