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0 0 -0.000987166831194451 0 0.000987166831194451 0.00296150049358335 0.00542941757156957 0.00592300098716688
Stock impact report

Annaly Capital, AGNC Investment upgraded to Buy at UBS on Fed's MBS exit [Seeking Alpha]

AGNC Investment Corp. (AGNC) 
Last agnc investment corp. earnings: 4/29 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.agnc.com
Company Research Source: Seeking Alpha
benefit from the end of the Federal Reserve's tightening cycle and its exit from the mortgage-backed securities market. "We see the sector set up for a period of robust and sustainable total returns," UBS analyst Vilas Abraham wrote in a note to clients. "We forecast ~30% total return over the next year supported by a combo of BV (book value) accretion and a low double-digit yield profile." AGNC Investment ( AGNC ) stock gained 0.8%, and Annaly Capital ( NLY ) stock rose 0.7% in Monday premarket trading. Assuming the Fed is almost done with its policy tightening, Abraham thinks that nominal MBS spreads that are still exceeding 160 basis points are "biased tighter in the medium/longer term" due to lower rate volatility and gradually improving supply/demand dynamics. "This dynamic could reasonably lift mREIT book values ~10% over the next twelve months," he said. The analyst also points out that when the Fed was buying and holding MBSs, performance in good times and bad times wa Show less Read more
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