they will do even worse even if temporary - and if they do well they will do too well and that might be overstated.
its like an exxageration on both sides and why - agnc and mtge usd to be about stabilty - just dumb.
It's not the tba its the simple fact they are net long mortgages agency.
oh no not so
agency yep all got hit agnc and mtge were the worst because with losses in agency comes another hit with the rolls
accentuates the book loss