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Annaly Salvos 66 posts 0 comments

Annaly Capital Management, Inc. (NYSE:NLY) manages a portfolio of mortgage-backed securities, and its wholly-owned subsidiaries manage assets for and provide services to institutional and individual investors worldwide. Annaly’s principal business objective is to generate net income for distribution to investors from its mortgage-backed securities and from dividends it receives from its subsidiaries. Annaly has elected to be taxed as a real estate investment trust (REIT).

Political Economy

Chart of the Day: Market Share of GDP and Foreign Exchange Reserves

Annaly Salvos Dec 17, 2010

Whether or not we are witnessing the end of the debate in Europe or simply another milestone on the way to The United States of Europe is a question for a dissertation, not a blog. In the meantime, these questions lead us to consider the…

Daily

Reading the Tea Leaves

Annaly Salvos Dec 14, 2010

by Annaly Capital Management Today’s “must read” comes courtesy of Professor Jeremy Siegel of Wharton Business School and “Stocks For the Long Run” fame. His Wall Street Journal op-ed, titled “The Fed’s Policy Is Working,” can be read…

Economy

On the Ability of Trees to Grow to the Sky

Annaly Salvos Dec 10, 2010

Most of the headlines you’ll see related to the Federal Reserve’s Z.1 Flow of Funds report are focused on the change in household net worth. In the 3rd quarter 2010 report, released yesterday, the change was a positive one: household net…

Economy

Jobs and Taxes

Annaly Salvos Dec 7, 2010

For months, Ben Bernanke has been more or less pleading with fiscal policymakers to catch up to him. With yesterday’s announced agreement on tax cuts and the extension of unemployment benefits, Congress and the Administration are making the…

Political Economy

Moment of Truthiness

Annaly Salvos Dec 3, 2010

if many countries were in the cast of “The Biggest Loser,” the US would be among the fattest competitors. Thus, with this report, is the US now able to say, “See here, we are going to go work as hard as the rest of you to slim down”? Maybe…

Economy

Getting Liquid

Annaly Salvos Nov 30, 2010

While this probably isn’t much proof of Keynes liquidity preference, at least in the extreme sense, it does help explain why M1 has grown significantly faster than broader measures of money supply, as cash simply shifts from M2 to M1.

Economy

Bank Earnings Rise over 600% in 3rd Quarter!

Annaly Salvos Nov 23, 2010

by Annaly Capital Management The title of this piece is strange but true. The FDIC released its Quarterly Banking Profile for the 3rd quarter of 2010 this morning, trumpeting $14.5 billion in profits (up from only $2 billion in the year…

Business

Car Sales Rise $23 Billion

Annaly Salvos Nov 20, 2010

by Annaly Capital Management Okay, so this wasn’t the exact headline after GM’s record setting capital raise this week. Including over-allotment option, the offering of common and preferred stock should bring the total dollars raised to…

Economy

A JOLTing Look Below the Latest Jobs Headlines

Annaly Salvos Nov 12, 2010

by Annaly Capital Management Plenty has already been written about last week’s nonfarm payroll data. Many have pointed out the weakness underlying the relatively strong +151,000 headline number: the household survey (which feeds the…

Political Economy

The Wealth Gap

Annaly Salvos Nov 9, 2010

by Annaly Capital Management One of the goals of QE is to raise asset prices, as we have been told by Chairman Bernanke and Brian Sack among others, which should stimulate wealth-effect consumption. Leaving aside all of the obvious hazards…