This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Annaly Capital Management Releases Market Commentary For The Second Quarter 2012

Annaly Capital Management, Inc. (NYSE: NLY) released its second quarter 2012 market commentary providing a review of the economy and the residential mortgage, commercial mortgage, asset-backed, corporate credit and treasury markets. Through its quarterly commentary Annaly expresses its thoughts and opinions on issues and events it monitors in the financial markets. Please visit our website, www.annaly.com, to view the complete commentary with charts and graphs.

The Economy

The world keeps getting flatter. In addition to items of specific domestic importance, the things that may drive sentiment in US fixed income and equity markets on any given day could include Spanish government bond yields, Chinese manufacturing or German unemployment. And while European headlines and “Fedspeak” are driving the current conversation, the horizon remains clouded with the uncertainty of the US election, regulatory flux and visions of a fiscal cliff.

The noise level has risen, and during the second quarter of 2012 the financial markets reacted with a flight from risk. The S&P 500 fell 2.75% during the second quarter, but is still up 9.49% year-to-date. The ten-year Treasury ended the quarter at 1.65% versus 2.20% on March 31, 2012, and 1.88% on December 31, 2011. The US Dollar trade-weighted index rose 2.4% in the second quarter and remains higher by 1.5% for the year. Commodities, as measured by the CRB Index, remained in a bear market that began in early 2011. They fell 7.9% in the second quarter and are down 7% YTD. The CRB index remains at levels similar to late 2004.

In general, scanning the incoming economic data in the second quarter, the world seems to be in the midst of a global slowdown. Eurozone manufacturing activity as measured by its Purchasing Managers Index stands at 45.1 in June and has been indicating contraction since August of 2011. Unemployment across the EU has risen to a record 11.1%. China’s PMI came in at 48.2 in June, and excess inventories of metals in China have been widely reported, another non-government indicator suggesting a slowdown.

1 of 8

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,919.59 +80.85 0.48%
S&P 500 1,981.60 +9.86 0.50%
NASDAQ 4,527.5140 +19.2020 0.43%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs