nice post, Doc, but i have a bad feeling about this one.
when the Fed announced its program, i bailed. you can't fight the Fed. i also bailed out on most of my ARR. good thing for both mREITs. a nice gain locked in for both. AGNC's own quarterly report is estimating the Benji is sucking up nearly 50% of all new agency paper. even if they cherry pick the rest, AGNC has less opportunity to make money on the lower rates.
i fear that the dec dividend announcement will include a reduction.