In just the week since QE∞ was announced, the spread between agency MBS and 10-year Treasurys...

In just the week since QE∞ was announced, the spread between agency MBS and 10-year Treasurys has collapsed from 60 to just 6 bps. With no spread there, look for non-agency MBS - already in rally mode as house prices recover - to continue to benefit, says BAML's Chris Flanagan. Non-agency or hybrid mortgage REITs: CIM, MFA, IVR, WMC.

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Comments (6)
  • L Stephen
    , contributor
    Comments (27) | Send Message
    We need to inform the contributor of this article, Mr. Flanagan that 70% of MFA's holdings are in agency mortgages. You need to do better research for your stories. CIM and IVR are also weighted more into agency mortgages.
    24 Sep 2012, 02:27 PM Reply Like
  • kingdad
    , contributor
    Comments (1364) | Send Message
    CIM has released any statements of value or a breakdown of their holdings in almost a year so you are either clairvoyant or you have some inside data or are just basing your statement on old outdated info.
    24 Sep 2012, 03:10 PM Reply Like
  • narrowback
    , contributor
    Comments (128) | Send Message
    I think you are missing a " not".
    24 Sep 2012, 04:52 PM Reply Like
  • kwm3
    , contributor
    Comments (2454) | Send Message
    False, they are restating past filings. None of which restatements are material, according to the company. In other words they are truing them up--while this does not imbue confidence in their lawyers, accountants, or the company, it is not as bad as you suggest.
    24 Sep 2012, 10:49 PM Reply Like
  • jrbuettner
    , contributor
    Comments (76) | Send Message
    QE Infinity is no limit (should be some sort of political slogan), I need to add to my IVR
    24 Sep 2012, 07:05 PM Reply Like
    , contributor
    Comments (4) | Send Message
    cim looks dim for future, I see delisting in new year. Too many reporting problems, tells you what are they hiding. But who knows, there will be a surprise one way or the other
    25 Sep 2012, 09:41 AM Reply Like
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