“We were pleased to generate a 4.8% economic return in the first quarter as each of our three investment strategies contributed to our book value appreciation, as well as generated stable earnings,” commented David Finkelstein, Annaly’s Chief Executive Officer and Chief Investment Officer. “Our core Agency MBS portfolio performed well as spreads were supported during the first quarter by lower volatility and an improved supply and demand picture. Our Residential Credit business continued to expand market share across the non-Agency sector with record lock and whole loan securitization volume and our MSR portfolio increased in value given the interest rate environment.”
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