It was already oversold before the FED announcement. With that announcement it is now even cheaper. The dividend cut is in line with expectations. We knew a cut was upcoming. Nobody expects 17% dividend rate in any
economic environment. The buyback announcement was very bullish and not priced in either. AGNC is simply way too cheap now imo.
If the company can only pay and .80 dividend based on the 90% rule on NOI that's one thing. But to say that they cut the dividend just because the rate went up to 17% is ridiculous. And the buyback was half the 6% buyback for MTGE. So big f@#ing deal.