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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).

Markets

Following the Real Money

Annaly Salvos Aug 31, 2010

by Annaly Capital Management Asset bubbles and leverage are kindred spirits. Just look at housing, tech stocks, and tulip bulbs. But if this is a necessary bubble condition, bonds don’t make the cut. Thanks to data provided by AMG and the…

Markets

Bond Bubble?

Annaly Salvos Aug 27, 2010

By Annaly Capital Management The “bond bubble” discussion in the mainstream media has become deafening lately. Some of the commentary has been thoughtful and interesting, but not all of it. Much of the bubble-watch has focused on asset…

Markets

Home Sales: Up, Down or Sideways From Here

Annaly Salvos Aug 24, 2010

By Annaly Capital Management Existing home sales can’t go to zero, can they? They clocked in at 3.83 million on a seasonally adjusted annualized basis in July, down 27% from the prior year, half of the 2005 peak of 7.25 million and the…

Markets

Letter from a Washington Conference Room

Annaly Salvos Aug 20, 2010

By Michael Farrell, Annaly Capital Management My fellow mortgage market participants, On Tuesday, I attended the “Conference on the Future of Housing Finance” hosted by Treasury Secretary Tim Geithner and Housing and Urban Development…

News

The Revolution Will Not Be Seasonally Adjusted, The Sequel

Annaly Salvos Aug 17, 2010

By Annaly Capital Management. The initial estimate of 2.4% annualized real GDP growth in 2Q 2010 will likely be revised lower (probably to something with a 1%-handle, depending on who you ask) in light of new data for June that was worse…

Monetary System

Why Is Money?

Annaly Salvos Aug 13, 2010

By Annaly Capital Management Back in June we wondered out loud, “What is a dollar?” That exercise—as well as the recent schizophrenic behavior of the currency market and the lamentations regarding the Fed’s “printing press”—has led us to…

Political Economy

The Federalization of the States

Annaly Salvos Aug 10, 2010

The coverage of nonfarm payrolls is pretty exhaustive, so there isn’t much to add. The massive inflow/outflow of temporary census workers has not only distorted the underlying trends a bit, it’s also confused the reporting. The headline…

Markets

Data Triangulation

Annaly Salvos Aug 7, 2010

A post by Annaly Capital Management from last night. Connecting two data events from the last 24 hours serves as a reminder to policy makers that if they really want to improve the housing finance system in the United States they should…

Economy

Tepid Top Lines

Annaly Salvos Aug 3, 2010

The market is engaged in a discussion over what the Federal Reserve will do next. St. Louis Fed president James Bullard published a provocative paper about ratcheting up quantitative easing to avoid the Japanese dilemma. Conversely, Philly…

Markets

The Found Lost Decade

Annaly Salvos Jul 30, 2010

By Annaly Capital Management. On Tuesday July 27th, the Census Bureau released homeownership rate data for the second quarter of 2010, which showed a continued decline to 66.9% from a peak of 69.4% in 2004. This rate hasn’t been below 67%…