New York, Feb 14, 2026, 18:47 EST — The session has ended.
AGNC Investment Corp closed out Friday at $11.36, slipping roughly 0.2%. The stock moved in a band from $11.23 to $11.54 as traders gravitated toward rate-sensitive stocks on the back of falling Treasury yields. Annaly Capital Management picked up about 0.5%. Dynex Capital was down around 0.4%. The VanEck Mortgage REIT Income ETF added about 0.6%.
AGNC, a mortgage REIT—these firms hold mortgages or mortgage bonds, not the properties themselves—announced on Feb. 11 that its board approved a $0.12 common dividend for February. Shareholders of record as of Feb. 27 will see the payout on March 10. AGNC’s portfolio leans heavily on agency residential mortgage-backed securities, or “Agency MBS,” instruments backed by a credit guarantee from Fannie Mae, Freddie Mac, or Ginnie Mae. The company uses short-term repurchase agreements to finance much of these holdings. (PR Newswire)
Friday’s session saw rates react after fresh data revealed U.S. consumer prices didn’t climb as much as anticipated in January, sustaining hopes for rate cuts before year-end. “The inflation report is better than expected,” said Phil Orlando, chief market strategist at Federated Hermes, per Reuters. The 10-year Treasury yield edged down to roughly 4.075%. (Reuters)
Even so, bond traders didn’t treat the CPI data as definitive. “We aren’t changing the baseline forecast for monetary policy based on one inflation reading,” said Bernard Yaros, lead U.S. economist at Oxford Economics. According to Reuters, futures now price in about two quarter-point rate cuts this year. (Fidelity Fixed Income)
With U.S. equity and most bond markets closed Monday for Washington’s Birthday, there’s a pause before traders get their next shot to react—Tuesday marks the return of cash trading, the first chance to see if Friday’s rate move sticks. (New York Stock Exchange)
AGNC investors know even modest moves in long-term yields can shake up mortgage bond prices, with leverage amplifying those jolts. The spread between Agency MBS and Treasuries remains in focus, a critical factor for mortgage REIT returns. Traders are also watching for any tightening in funding markets.
But the story can flip quickly. A sharp bounce in yields or a blowout in mortgage spreads hits book value, and if short-term funding costs climb, the net interest spread that supports dividends takes a hit.
Traders are eyeing the next set of scheduled triggers: the Fed’s January meeting minutes hit at 2 p.m. ET on Feb. 18. Then, on Feb. 20, the government rolls out its personal income and outlays release—complete with the PCE inflation measure that the Fed watches most closely. Both could jolt rate expectations for the week. (federalreserve.gov)
