EarningsAGNC reported core EPS of $0.44, above the BofA/Consensus forecasts, largely due to lower economic interest expense.
Investment OutlookThe investment outlook is strong due to wider mortgage spreads, with ROE on new investments of 19-22% being above AGNC’s breakeven ROE, implying dividend stability.
LiquidityLiquidity remains strong with significant cash and unencumbered assets, providing a solid base for financial stability.