John Anzalone, Chief Executive Officer, said, “During the first quarter, financial markets reacted negatively to proposed U.S. fiscal and trade policies given concerns they could result in slower economic growth and higher inflation. Despite weaker market sentiment, Agency RMBS performance was largely consistent with Treasuries, with higher coupons modestly outperforming their hedges as longer-dated interest rate volatility trended lower. This resulted in an economic return for the quarter of 2.6%, consisting of our $0.34 dividend per common share and an $0.11 decline in book value per common share.”
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