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Tag Archives: Citigroup Corporate Loan

That Mean Old Yield Curve

It’s claiming more and more victims. Yesterday, investors were shocked to learn that one of the best-managed mortgage REITs, Annaly (NSE: NLY), was forced to cut its dividend 20%, partly because the company’s net interest margin (the difference between what it pays for short-term money and what it earns on mortgage investments) has shrunk.