Lower mortgage rates are forthcoming with Fed expected to defray tapering probably to 2015. Decreasing purchase of MBS would have solidified current rate debacle lowered spread ---look what happened to refi business and banking jobs.
Where you gonna go and get 12% yield in a near zero inflation environment? Sell some in the money calls to hedge, and you're looking at 20%.
I'm interested on why you think she's worse than Helicopter Ben. Not bashing, I like the subject matter. I really ned to do more reading on her...at least we knew that the other guy was a forking nightmare.
I don't think you, or I, or Helicopter Ben have any idea just how bad things are (or aren't). The homeowner as a class was DEVASTATED in 2008-2009. Without QE, we would have ceased to exist. And the Fed admitting a mere four months after the May "maybe" proclamation that they would not taper is not necessarily a Good Thing as the market reaction seems to suggest. Everyone seems to be cautiously riding the wave, ready to bolt at the mere sniff of sulfur. GLTA.
Economy/employment numbers will not get good enuff in a couple months for them to taper. If fed does taper before the end of the year (with employment not improving), they would be back peddling and just prove to the American public that they are incompetent. Nothing would surprise me anymore. I will take the gamble on NLY going up even if interest rates hit 5%. Sell off in reits is overdone.