Instead of paying .2%, they paid 2%, a 10-fold increase just to protect from rising interest rates, but as the historical evidence shows this past 6-12 mos. INTEREST RATES PEAKED LAST YEAR right about the time they did this expensive hedging. Werer they wrong, or is the market wrong...... NLY and AGNC were two of the best managed and best hedged for rising rates, yet it protected nothing, TOTAL WASTE, as of right now. Could these guys be this WRONG or is the market wrong. My gut says the market is wrong and rates will rise substanctially going forward......which may be the catalyst to start a equity bear market, wiping out gains for the past 5 years. Inflation is starting ot pick up really big time and labor costs are rising.
You are quite welcome SIR. and sorry this board doesn't appreciate true facts and DD. Most here have an agenda, having nothing to do with AGNC. fire with fire. WHEN IN ROME. so, so sorry. but we didn't make it thus.