JP Morgan initiated coverage today with a $22 target....it would be mildly concerning if JP had an accuracy ratio above 50%. Thankfully those guys dont know their #$%$ from a hole in the ground so i disregard their opinion.
Bonds are up. But I would not be too concerned. Treasury rates have been trending down and one up day does not a trend make. That is why I exited TMV a while back. The no taper decision and the likelihood of Yellen being appointed has thrown water on the premise that interest rates any rise any further in the near future. At best rates will remain almost constant and may actually decline but are unlikely to go any higher soon because nothing is forcing them to go higher other than future expectations and the time frame of those expectations to come to fruition is likely to be much farther into the future than previously anticipated. So I no longer believe that a hold position for mREITs is as crazy as I once did. However I still do not feel confident enough to own them myself. Not until I see what the impact of these higher interest rates have been on the next dividend announcement.
I think the analysts are out to lunch. They seem to be reporting the obvious but delayed by so much that it is no longer relevant as the stock price has already responded and thus it is to late to use what they say.
It's important to note that Agency mortgages are likely to close out September at prices that are greater than the second quarter close, which would result in a slight increase in AGNC book for the third quarter.
When I looked at page, it must have been from yesterday and did not refresh when i posted. I saw bonds were up shortly after I posted, with a duh! Pardon my brain malfunction and why would someone thumb down your post is beyond me.