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Other mREITs slipping along with CYS Investments today include American Capital (AGNC -2.3%),...

Other mREITs slipping along with CYS Investments today include American Capital (AGNC -2.3%), Annaly (NLY -1.6%), and Armour (ARR -0.6%). This despite the fact that not all hedge books are created equal and the managements of these three may not have been buying alongside CYS CEO Kevin Grant at just the wrong time - early June.
 
Comments (2)
  • ChuckJ
    , contributor
    Comments (72) | Send Message
     
    The market lacks confidence in these very complex instruments. They will probably have to see a profit before they recover some of their discount.
    18 Jul 2013, 03:44 PM Reply Like
  • Dividend Living
    , contributor
    Comments (251) | Send Message
     
    Could have had a little to do with CYS, but I think it was more that the 10 year treasury was rising and MBS values were falling today. Its a rare event when mREITs and MBS values trade out of step. Maybe one day every two weeks they trade out of step. CYS hedges performance just wasnt enough to change this trend.
    18 Jul 2013, 07:41 PM Reply Like
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