TWO News and Press, Two Harbors Investment Corp From 08/04/21

Overall Performance Driven by Spread Widening in High Coupon RMBS Two Harbors Investment Corp. (NYSE: TWO), an Agency + MSR mortgage real estate investment trust (REIT), today announced its financial results for the quarter ended June 30, 2021. Quarterly Summary ...

NEWT announced they are planning to buy a bank and stop being a BDC. Shares down 27.5% on the DAY as of 3PM Eastern. We couldn’t predict NEWT would announce this deal, but we could and did predict that paying an absolutely massive premium to book value was a mistake. Lookin...

On 7/26/2021, AGNC reported results for the second quarter of 2021. AGNC reported a comprehensive loss of ($488) million and a non-tangible BV as of 6/30/2021 of $17.39 per common. In this article, I will discuss my previous account projections versus actual results. I will also discu...

U.S. equity markets were mixed this week as disappointing "big tech" earnings and concerns over controversial COVID vaccine and mask mandates were offset by historically strong earnings results from domestic-focused companies. Retreating from the record-highs set last week, ...

When it comes to mortgage REITs, investors need to pick their dips carefully. It isn’t as simple as a lower price indicating higher yields. That’s a mistake many new investors make. A few nice opportunities have been developing lately. We will highlight a few that ca...

Digging into AGNC Investment's ([[AGNC]] -0.6%) Q2 results, BTIG analyst Eric Hagen points out that spread widening in May and June "essentially reversed the benefits captured in the first quarter from being higher in coupon and hedged with longer-maturity swaps and treasuries."Net hedging lo...

We take a look at the action in preferreds and baby bonds through the third week of July and highlight some of the key themes we are watching. Given sharply lower Treasury yields, we take a look at the impact of coupon level in driving portfolio durations. And have a look at recen...

U.S. equity markets rebounded from an early-week dive as investors shrugged-off COVID concerns following a historically strong start to corporate earnings season and better-than-expected housing market data. "American Exceptionalism" was the theme as COVID concerns across internationa...

I'm projecting AGNC will report a combined minor unrealized gain on on-balance sheet MBS/investments for the second quarter of 2021 (mainly fixed-rate agency MBS). Lower coupon generic 15-year and 30-year fixed-rate agency MBS coupons had modest-notable price increases during the quar...

Best of Times and Worst of Times: Mortgage REITs endured punishing declines during the pandemic, but have nearly tripled from their lows and are back within shouting distance of pre-pandemic highs. The wave of dividend cuts has given way to a frenzy of increases this year as 20 m...