Shifting tack, Goldman bought $6.7bn of agency RMBS in Q1
Purchase of amortised-cost securities is first diversification away from US Treasuries in seven years
Goldman Sachs acquired $6.7 billion of Ginnie Mae residential mortgage-backed securities (RMBSs) in the first quarter of 2024, breaking from a years-old strategy of primarily filling its securities book with US Treasuries.
The pass-through RMBSs, guaranteed by the Government National Mortgage Association, were all booked as held-to-maturity (HTM), meaning they are shielded from mark-to-market fluctuations but cannot be sold.
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