AGNC Investment Corp reported a 9.3% economic return on tangible common equity for Q3 2024, comprising $0.36 dividends per share and a $0.42 increase in tangible net book value. Net spread and dollar roll income was $0.43 per diluted share, down from $0.53 in Q2 due to a narrower net interest spread.The company's investment portfolio grew to $73.1 billion, with average leverage at 7.2x tangible equity. Agency RMBS spreads remained wider than historical norms, benefiting from an accommodative Fed stance and declining interest rate volatility. AGNC issued $781 million of common equity through its ATM program during the quarter.Looking ahead, management expects a favorable outlook for Agency RMBS given current economic conditions and monetary policy. The company has shifted towards longer-term Treasury-based hedges and reduced swap-based hedges in response to the changing interest rate environment. AGNC maintains a strong liquidity position with $6.2 billion in cash and unencumbered Agency RMBS.

AGNC Investment Corp reported a 9.3% economic return on tangible common equity for Q3 2024, comprising $0.36 dividends per share and a $0.42 increase in tangible net book value. Net spread and dollar roll income was $0.43 per diluted share, down from $0.53 in Q2 due to a narrower net interest spread.The company's investment portfolio grew to $73.1 billion, with average leverage at 7.2x tangible equity. Agency RMBS spreads remained wider than historical norms, benefiting from an accommodative Fed stance and declining interest rate volatility. AGNC issued $781 million of common equity through its ATM program during the quarter.Looking ahead, management expects a favorable outlook for Agency RMBS given current economic conditions and monetary policy. The company has shifted towards longer-term Treasury-based hedges and reduced swap-based hedges in response to the changing interest rate environment. AGNC maintains a strong liquidity position with $6.2 billion in cash and unencumbered Agency RMBS.