Both in BV and pleasure! I have been long since 34. Buying, buying, buiying waiting for something good to happen and now it is here. Feels good to be long now.
I see the after hours gains,but by tomorrow it will be gone. The report is horrible,other than 10 year Treasuries going down. I am not surprised the book value is 25,but this company is going to continue to flop until June 14 when the Feds finally end their bond buying.
A small piece from their report, "The second quarter was characterized by extreme volatility in both interest rates and mortgage spreads. In response, we remained highly disciplined with respect to our risk management activities. We reduced the size of our asset portfolio, adjusted our asset composition to be more consistent with a higher rate environment, and materially increased the duration of our hedges. AS A RESULT OF THESE ACTIONS AND EVOLVING MARKET CONDITIONS, OUR EXPOSURE TO HUIGHER RATE IS LOWER THAN IT HAS BEEN IN YEARS AND OUR "PAY-UP? RISK IS NOW MINIMAL
Ten year note rate is basically up to FED to decide. It has recovered a little bit lately. Don't forget FED has not started to taper yet. And none of us are sure when it will happen. I am collecting dividend and waiting.