Nonagency business now makes up 57% of Omnicom's revenue (at Interpublic, the figure is 41%).
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2.
But in these days of low yields, nonagency RMBS have suddenly become popular.
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3.
Already, despite a still low jobless rate, delinquencies, foreclosures and other signs of distress are surfacing in the subprime segment of the nonagency market.