yeah - treading water like IVR did during the 4th qtr when everyone is/was concerned about falling rates and prepays is likely viewed as somewhat positive. More important is their outlook going forward - which may be discussed in tomorrow's cc. Of course IVR just completed an SPO - was it opportune timing? only time will tell. Big ? now re: AGNC is whether they'll do an SPO - below BV - and whether they'll hint at a reduction in the dividend going forward. A good earnings release by AGNC could be the catalyst for a quick jump in the stock price which could trigger a secondary ... and which may not reflect a lower dividend going forward ... lots of ??