AGNC - AGNC: Rare Conference Appearances Show Insight Into Potential Goldilocks MBS Market

2024-03-06 21:35:41 ET

Summary

• AGNC dealt with an extremely difficult market for MBS in 2022-23.
• However, the market environment is shifting to become much more favorable.
• AGNC is well positioned to take advantage of this market given its current defensive posture.

I upgraded AGNC Investment ( AGNC ) to a “Buy” rating back in June on the premise that with the Fed tightening cycle likely coming to an end that it was the time to start accumulating shares. Including dividends, the stock has generated an over 5% return since then. More recently in January I wrote that the outlook for the firm looked brighter now that it appeared the Fed would start to cut rates this....

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