Invesco Mortgage reports Q3 EPS 58c, consensus 58c

“The strong momentum that began in mid-April continued throughout the third quarter, as financial markets benefited from expectations for easing monetary policy, strong corporate earnings and improved economic growth. Agency RMBS performed well, with declining interest rate volatility and robust investor demand driving higher valuations in most coupons. Additionally, swap spreads reversed a portion of their tightening experienced during the second quarter, providing a tailwind for performance. These factors led to a 4.5% increase in book value per common share to $8.41 at quarter end, and, when combined with our $0.34 dividend, resulted in a positive economic return of 8.7% for the quarter.,” said CEO John Anzalone.