A slight pickup in non-agency RMBS prices has been seen in response to the government's latest Public-Private Investment Plan (PPIP) and Term Asset-Backed Securities Loan Facility (TALF) initiatives, but a fair amount of pessimism linked to other issues persists in the market.

There has been a pickup in nonagency RMBS and commercial MBS prices as a result of the PPIP and TALF moves that has been more muted on the RMBS side, said Ron D'Vari, chief executive officer and founder of the New York-based New Oak Capital, confirmed on Tuesday.

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