Jobs Report: Will plummeting yields on mortgages hurt Annaly?
I had been buying NLY on the prospect that an improving economy would help to hasten the end of the fed's QE3 program. The 10 year treasury went below 1.70 this morning... that's not what I had in mind when I decided to go long with Annaly.
The question is: What will the fed do in reaction to the lowest labor-participation rate since 1979? Flatten the yield curve even more???