American Capital downgraded at Sandler O'Neill

|By:, SA News Editor

The Summers withdrawal and resultant bond market rally had the mREITs (REM +0.7%) opening sharply higher, but the rally is fading, with sector giants Annaly (NLY -0.5%) and American Capital (AGNC -0.3%) now in the red.

American Capital is the subject of a downgrade to to Sell from Hold at Sandler O'Neill. Sandler cut another pure-agency player, Armour Residential, to Sell as well.

Compass Point - on the other hand - raised a number of non-agency mREITs to Buy (or initiated them at that level), and upgraded Armour to Buy as well.

Related ETFs: MORT, MORL.