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Mortgage REITs applaud dovish FOMC minutes

Apr. 09, 2014 2:43 PM ETAGNC Investment Corp. (AGNC) StockREM, NLY, CIM, EFC, AGNC, HTS, RC, MORT, JMI, MORL, EARNBy: Stephen Alpher, SA News Editor8 Comments
  • Mixed earlier, a lot more green creeps into the mortgage REIT sector (REM +0.6%) after the FOMC minutes suggest members aren't in as quite of a rush as thought to hike rates. The 10-year note yield is back to flat on the session at 2.68% (was as high as 2.72% pre-release), and the short end is doing even better (steeper curve) with the Dec. 2015 Eurodollar contract higher by six basis points.
  • Leading the move higher are American Capital Agency (AGNC +1.1%), Chimera Investment (CIM +1.1%), and Hatteras Financial (HTS +1%). Also among those ahead are Annaly (NLY +0.7%), Anworth (ANH +0.6%), Ellington (EFC +1.3%), (EARN +0.1%), and Javelin (JMI +0.6%).
  • Related ETFs: MORT, MORL

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