The current economic and interest-rate environment will remain in place for some time, says Kevin Grant, president and CEO of Cypress Sharpridge Investments -- an environment that is complementary to the company's business and investment model. "Agency RMBS is our focus. These are the cheapest assets anywhere right now to finance, which creates a powerful spread environment and favorable returns," he says. Grant says agency RMBS receives a lot of investor demand from core holders but also from banks, which like their favorable capital treatment.

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