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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

Affordable Schooling

Annaly Salvos
Much ink, real and virtual, has been spilled over the last few days on the macro and micro of the election, QE2, global central banking activities, competitive currency strategies and asset-price targeting. We’re going to give that a rest…
Political Economy

Eye of a Very Long Storm

Annaly Salvos
If you’re reading this Salvo on the day it is posted, then you are likely holding your breath on a number of fronts: the outcome of the election tonight, the FOMC announcement tomorrow afternoon and the policy meetings of the Bank of…
Economy

Zombie Households

Annaly Salvos
by Annaly Capital Management Thursday’s third quarter GDP release provides a ton of fodder for the data dorks among us. There will be more to follow on this in the October monthly commentary, but today we’ll look at just one of the…
Economy

Government Sponsored Spending

Annaly Salvos
The first reading of 3rd quarter GDP was released this morning, with the headline coming in right on top of estimates at 2%. The happy surprise of the report was personal consumption expenditures (PCE), which were better than expectations…
Markets

Dollar Doldrums

Annaly Salvos
by Annaly Capital Management We attended a conference this week hosted by Grant’s Interest Rate Observer, which is always a mix of long and short investment ideas and bullish and bearish macroeconomic observations. This one was no…
Markets

FUD for Thought 2: What, Me Worry?

Annaly Salvos
This is the Golden Age of Fed Watching. And we’ve done our fair share. On a day when we have speeches from 5 Fed presidents and 1 governor, what more is there to say that hasn’t already been said? Faith in the Fed is high, and capital…
Markets

On the Value of Insurance

Annaly Salvos
How to value gold is an age old frustration. As every schoolboy knows, it yields nothing and so can’t be valued on cash flows. It has very little industrial use. There is, however, a natural human tendency toward the use of currency so gold…
Economy

Languishing Labor Force

Annaly Salvos
Is there a data series more highly anticipated and thoroughly parsed than the monthly nonfarm payroll release by the BLS? Probably not. But we’ll throw a few graphs onto the pile anyway. The headline Establishment Survey number came in at…

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