Fannie Mae 2006 Annual Report Download - page 172
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long-term bonds are significantly higher than on short-term bonds. An “inverted” yield curve exists when
yields on long-term bonds are lower than yields on short-term bonds.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk
Quantitative and qualitative disclosure about market risk is set forth on pages 141 through 148 of this Annual
Report on Form 10-K under the caption “Item 7—MD&A—Risk Management—Interest Rate Risk
Management and Other Market Risks.”
Item 8. Financial Statements and Supplementary Data
Our consolidated financial statements and notes thereto are included elsewhere in this Annual Report on
Form 10-K as described below in “Item 15—Exhibits and Financial Statement Schedules.”
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
157