CYS Investments (CYS -4.1%) leads the mortgage REIT sector lower after last night's earnings....

|About: CYS Investments, Inc. (CYS)|By:, SA News Editor

CYS Investments (CYS -4.1%) leads the mortgage REIT sector lower after last night's earnings. "The opportunities ... are quite a bit narrower," says CEO Kevin Grant on the earnings call (transcript), with the net interest spread of 108 bps "a pretty good indicator" of such. On a hopeful note, he thinks D.C. may be turning its focus to the non-agency market, which would take some pressure off agency players such as CYS.