AGNC Investment reports Q4 EPS $1.17, consensus 65c

"The fourth quarter of 2022 provided reason for optimism that a very constructive and durable investment environment is emerging for Agency MBS," said Peter Federico, the Company’s President and CEO. "Fixed income markets stabilized over the quarter, and investor sentiment improved as volatility and monetary policy uncertainty began to subside. Against this backdrop, Agency MBS spreads to benchmark rates tightened from historically wide levels, driving the meaningful improvement in our tangible net book value per common share during the quarter, both of which continued into January. While Agency MBS as an asset class posted its worst annual performance on record in 2022, adverse market episodes in the past have often preceded AGNC‘s most favorable investment environments and have proven to be value enhancing over the long run."