All negative news discounted and AGNC already made a bottom IMO.
If there is a dividend cut to $1.00/share AGNC should not go lower than 21 (pray).
AGNC should see 25-26 range by end of 2013.
It's more a capital appreciation play and collect 2 dividends to boot.
Just my 2 cents.
The Jackson Hole conference points up the struggle the Fed is facing as it tries to return to a more normal mode of monetary control. As a result, anything is possible. The consensus was that Obama is leaning toward Summers as his next pick for Fed chairman. If that happens, much of what Bernanke has done will be reversed, which is what I believe Obama wants.
Exactly - if Summers is nominated the 10Y will easily hit 4% within a year crushing all dividend payers as carry trades continue to unwind. One only has to look at emerging markets to see how damaging the end of QE is.