Commentary

Management at Annaly publishes a monthly market commentary and will occasionally express their thoughts and opinions on more specific issues and events in the financial markets. These commentaries are intended for informational purposes only, and should not be construed as an offer to sell, nor a solicitation of an offer to buy, any securities of Annaly Capital Management, Inc. or any other company.

To Serve Man
May 1, 2008

Note On Policy Efforts To Stabilize The Financial Markets
March 20, 2008

Note On Regulatory Changes At Fannie Mae And Freddie Mac
February 27, 2008

Welcome To The Keynesian Nightmare
February 5, 2008

Note On Freddie Mac Following Release Of Its 3rd Quarter Results
November 20, 2007

Seduced By A Super Model
October 30, 2007

Credit Lessons From 1812
July 31, 2007

Home Prices: The Under-Appreciated Economic Indicator
June 4, 2007

The New Dust Bowl
May 2, 2007

Don't Blame The Bondholders
April 30, 2007

Sub-prime Mortgages: The View From The Sidelines
March 21, 2007

The Secret Life of Walter Lender
February 7, 2007

Two For The Price Of One
November 2, 2006

A Historical Perspective on Where We Are in the Interest Rate Cycle
October 23, 2006

Housing - Why We Expect A Hard Landing
October 4, 2006

"The Goldfish Is Dead, Senator"
August 3, 2006

Note on OFHEO's Special Examination of Fannie Mae
May 25, 2006

The Yield Curve Is Telling Us Something
November 29.2005

"We take virtually no credit risk"
June 22, 2005

Note on SEC Statement on Fannie Mae Accounting
December 15, 2004

Fall 2004 Newsletter
September 17, 2004

It's a big world after all: Foreign capital flows and the US markets
January 27, 2004

The Fed, Deflation and You
September 25, 2003

Derivatives: The ugly, the bad and the good
August 6, 2003

Note on the New Leadership Changes at Freddie Mac.
June 9, 2003

What happens when rates rise? We use our barbell.
April 11, 2003

Note on comments made by William Poole, President of the
Federal Reserve Bank of St. Louis at the Office of Federal Housing
Enterprise Oversight Symposium on March 10, 2003.
March 11, 2003

Refinancing and MBS Returns: A Slippery Slope
January 23, 2003

In Praise of Dividends
December 30, 2002

When a Safe Harbor Fund Isn't
October 23, 2002

A Case for a Steep Yield Curve
October 16, 2002

The Dollar Riddle
August 7, 2002

A housing bubble? Not like the South Seas.
June 28, 2002

A discussion of risk at Fannie Mae and Freddie Mac
June 21, 2002