AGNC Investment Corp.’s (AGNC) active portfolio-management strategy will help it navigate the current monetary policy transition. However, market conditions are likely to remain challenging in the near term, with monetary policy tightening, whereas spread widening may affect book value.AGNC is operating in a more defensive position with significant hedge protection due to market volatility. AGNC repositioned certain credit-focused holdings, trimmed its non-agency portfolio and increased exposure to higher-c ...