Fannie, Freddie Whipsaw as Trump Floats Trillion-Dollar Value

Fannie Mae and Freddie Mac common shares rose sharply at the open on Friday after President Donald Trump said the two mortgage finance giants were probably worth $1 trillion, though they subsequently erased much of those gains as skepticism mounted.

The president mentioned Fannie and Freddie at the White House on Thursday afternoon during remarks ostensibly centered around the coal industry. Earlier this week, the shares slid after Trump appointed Bill Pulte, the head of the Federal Housing Finance Agency, as his acting director of National Intelligence. The appointment cast doubt on long-standing plans to start selling ...