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American Capital Agency Corp. Message Board

bermcall 4 posts  |  Last Activity: Jul 25, 2014 9:08 AM Member since: Mar 25, 2014
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  • bermcall bermcall Jul 25, 2014 9:08 AM Flag

    swamp is the flame.

  • Reply to

    END OF QE - KLUMPS VISION !

    by dr_klumps Jul 12, 2014 3:19 PM
    bermcall bermcall Jul 18, 2014 7:46 AM Flag

    I am not sure of anything. But I think the chances or rates rising in the next year is greater than of rates falling.

  • bermcall by bermcall Jul 14, 2014 9:42 AM Flag

    Serious Question:
    Won't some MREITS ( and I do not know which ones) have enough hedges in place and will buy new MBS with higher underlying mortgage rates, and reduce leverage as rates rise? Don't get me wrong, I am sure yields will drop tremendously on Mreits. I am sure those heavily invested will be smashed over the head.
    But at the point when Rates are high and mreit yields are low and the (Smarter) Mreits are adding in deeply discounted low coupon (High convexity) MBS and shortening up the duration of their liabilities...Won't that be the time to buy Mreits?...for example in 6/30/ 2006 NLY was yielding 3.75 an the price was ~12.80
    Had you bought then and DRIPed and closed your eyes- you would have over 11% annually till 6/30/14.
    OK not killer but I would take 11% per year over 8yrs.
    AGAIN: I do not think it is time to buy MREITS ...but...when rates a higher I will be buying the survivors.

  • Reply to

    END OF QE - KLUMPS VISION !

    by dr_klumps Jul 12, 2014 3:19 PM
    bermcall bermcall Jul 14, 2014 8:30 AM Flag

    Serious Question:
    Won't some MREITS ( and I do not know which ones) have enough hedges in place and will buy new MBS with higher underlying mortgage rates, and reduce leverage as rates rise? Don't get me wrong, I am sure yields will drop tremendously on Mreits. I am sure those heavily invested will be smashed over the head.
    But at the point when Rates are high and mreit yields are low and the (Smarter) Mreits are adding in deeply discounted low coupon (High convexity) MBS and shortening up the duration of their liabilities...Won't that be the time to buy Mreits?...for example in 6/30/ 2006 NLY was yielding 3.75 an the price was ~12.80
    Had you bought then and DRIPed and closed your eyes- you would have over 11% annually till 6/30/14.
    OK not killer but I would take 11% per year over 8yrs.
    AGAIN: I do not think it is time to buy MREITS ...but...when rates a higher I will be buying the survivors.

AGNC
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