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Annaly Capital Management, Inc. Message Board

gcmorgan_98 3 posts  |  Last Activity: Aug 12, 2014 10:34 AM Member since: Jan 18, 1998
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  • gcmorgan_98 by gcmorgan_98 Aug 12, 2014 10:34 AM Flag

    Boy was that a snooze.... A few minutes of recap by Matt and two questions.

  • Reply to

    10 year treasury and book value

    by owens132000 Aug 8, 2014 11:11 AM
    gcmorgan_98 gcmorgan_98 Aug 8, 2014 4:38 PM Flag

    The reduced hedge book alone will save about 45 million from 2nd quarter numbers. Combine that with the additional 5 billion of mbs, I would expect earnings of 36 to 38 cents per share. The dividend will be very close to that.

    Note that premium amortization was 150 million last quarter. With a CPR of 7, I would expect the number to be a little lower. I think the disposal of 6 billion of mbs during the quarter jacks this expense up. Any mbs pros out there that ca comment on this??

  • Great numbers, cleaned up the hedge book, all the while barely increasing leverage.
    Third quarter numbers have .35 to .37 locked in. The cost of hedges will go from 220 million to 175 million assuming no further additions. That alone takes income up to .35. With the book of mbs going up another 5 billion, look for an additional 2 to 3 cents per share.

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