More on American Capital Agency earnings

|By:, SA News Editor

Q2 reported "comprehensive loss" for American Capital Agency (AGNC) of $2.37 includes $4.61/ share of net income and $6.98 in losses on M2M investments.

Book value of $25.51.Tip of the hat to SA contributor Scott Kennedy who predicted book value would come in at $25.40.

"Q2 was characterized by extreme volatility in both interest rates and mortgage spreads," CIO Gary Kain says, adding that thanks to adjustments to the asset mix and an increase in hedge duration, AGNC's "exposure to higher rates is lower than it has been in years." Shares +5.72% AH. (PR)