Perspectives
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The Earnings Extract: Q2 2024
- AGNC generated an economic return on tangible common equity of (0.9)% during the quarter, comprised of $0.36 of dividends per common share and a $(0.44) decline in tangible net book value per common share.
- Despite the softening in certain economic measures throughout the quarter, the Federal Reserve remained steadfast in its hawkish monetary policy stance, and, as a result, intra-quarter volatility increased, interest rates edged higher, and Agency MBS spreads to benchmark rates widened.
- Nevertheless, we continue to be very optimistic about both the current returns and future prospects for our business in light of the favorable supply-demand dynamic for Agency MBS, improving monetary policy outlook, and attractive valuation levels for Agency MBS relative to both U.S. Treasuries and investment grade corporate debt.
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Why Agency MBS: Market Snapshot
Read MoreAgency MBS assets benefit from compelling fundamentals and favorable attributes that make them a critical building block of any investment portfolio.
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The Earnings Extract: Q2 2024
Read MoreCommentary from our quarterly earnings call covering the macroeconomic landscape, the Agency MBS market environment, and our quarterly performance.
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Monthly Macro Monitor: June 2024
Read MoreA quick update on the market environment, including key rate and spread trends that are top of mind for Agency MBS investors.
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The Fed Report: June 2024
Read MoreKey highlights from the June 2024 FOMC policy update along with our insights and takeaways.
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Monthly Macro Monitor: May 2024
Read MoreA quick update on the market environment, including key rate and spread trends that are top of mind for Agency MBS investors.