Dead cat bounce, oversold, any logic for the overbought today?
Institutions dumped from over 30 to 24; actually all mREIT higher today after steep declines.
Not convinced this can be sustained until we get 4 consecutive multi-point up days.
Fed rumors has hammered mREIT
Exactly. This has been the pattern for the past two weeks. AGNC has said that they will repurchase its shares when the current market price is well below book value, as it is now. They have the cash (from the last SPO) to do this. And, it helps to support the dividend by reducing the number of shares outstanding on which the dividend is paid. Good AGNC strategy; better to repurchase its shares than to buy more low-interest mortgages now.
I suspect that any dividend cut will be much less than the market has priced into share price drop. That should kindle a buying spurt to XD.