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American Capital Agency Corp. Message Board

  • tjpunk May 3, 2013 10:38 AM Flag

    Drop below $30?

    Book value is $28.93 .

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    • In favor of "no", we have this from the press release:

      "Fixed-rate agency MBS prices declined considerably more than both U.S. Treasury securities and interest rate swaps during the first quarter, as market participants began to price in an early end to the Federal Reserve's third round of quantitative easing ("QE3") amid stronger economic data," commented Gary Kain, President and Chief Investment Officer.  "Specified mortgage securities also materially underperformed generic securities as investors focused on extension risk instead of prepayment risk. This underperformance of both TBAs and specified MBS led to the decline in our net book value.  However, as economic activity both globally and in the U.S. has weakened over the past month, interest rates have fallen again and mortgages have recovered some of their first quarter weakness."

19.480.00(0.00%)Oct 21 4:00 PMEDT