CYS NEEDS A SHARE BUYBACK PLAN. AGNC JUST ANNOUNCED A ONE. WHY NOT ?
You're not looking at big picture. with QE3, interest rates drops (true make current MBS premiums) however, as MBS are refianced, what are they going to do with equity? They can't buy MBS because there are none to be had -- QE3 will be buying all that is available. So only option I see is they have to paydown debt and return equity (BUYBACK). what other options are out there?