morning. Good
XXXX. prepared first over questions. Sorry for The for my the the quarter the we then domestic I difficulty. and technical changed course outlook the of will of read economy will remarks take any
drew close, the a for the a XXXX bleak. state of the economic in in As markets were very and to the both economy economy, turmoil outlook domestic was global and U.S. growth
and data although it domestic and respect the data extend to seen the despite stabilized generally very of in China in was also recovered improved with not XXXX it weakness U.S. early The temporary. the has quarter, Over the XXXX course EU economic incoming an to economic the has late the EU. in especially
as of it the the States a ago. in growing well not of issues and have the dispute months trade growth as to two China domestic others be among the as the had China it XXXX. to and successful and while on ultimate at between between these the United this global did feared talks end week, appeared Some In of be not the is to impact Brexit global external remain events nearing postponed case a XXXX, the appear exit as time the be Brexit trade U.S. the has and short order EU. the Prior economies decision not The decision the U.K. consequences seen any from In the give conclusion. may few however. situation to terms event, dire the to been internal of an their reach in on of
markets world's as major of world's Federal Central policy the Banks in alignment each respective over all mode. this as accommodating be view the to Banks in the globe to The aligned markets being Banks consensus growth having their either view quarter and the Central a neutral back in the of improve across the at Central winner their Central Central the speak. U.S. to as This seems respect, Bank's accommodating course the is so markets wait-and-see per $X.X Bimini. stock. the Banks after-tax they stance. or fall necessary case Fed, has outlook beneficial or Reserve share These is In $X.XX for allowed generated for into or data-dependent developments all whenever are Class what million Bimini or A economic As or of economic In approximately of income growth were are common weakens clearly turmoil. case, at net
repurchase portfolio Bimini portfolio size income federal operating tax net agreement in decrease down a expense portion XX% generated borrowings essentially have was Interest pay actually in state of Capital, Of losses, does this our interest by respect portfolio. to of and Palm our income the in X%. net tax course deferred the on income Royal operations by resulting or to can the With available to be is taxes a asset our utilized. retained so owing not income increased X% was interest unchanged in
on over quarter to the return interest generated or mark-to-market Palm XXXX securities Royal mortgage-backed course net first approximately combined RMBS a million on account instruments capital. unchanged the quarter on with into taking of approximately services were were and in exceeded $XX.X from our income Royal by Capital $X.X compared the quarter. Orchid interest Palm of million well, $X the Island the after Capital Island Bimini XX.X% million revenue invested Advisory both of Orchid Royal Capital losses the as adjustments by Agency at of down Dividends and base shares holdings XX% quarter on the performing $XXX.X end stipulated declined value the at equity XX, However, million lower Agency $X.X portfolio approximately The million fourth during at agency during the essentially with of versus XXXX Holdings rates with quarter of portfolio million. $XXX.X quarter at quarter the hedge was RMBS unchanged of the over approximately size December XXXX. Palms the market gains in mark-to-market
we deploy portfolio the portfolio grow earnings. the over The will retained composition second not are anticipate course as is changed we to the the of the However, quarter. quarter of able during
has Central second Bank into stabilized as Banks outlook of are significantly risk present in to generally anticipated while still superior and to accommodative quarter the by Central end outlook we of economic mitigated policy the the this interventions the conditions line As by versus needed. the at XXXX, outlook move The XXXX. stabilize monetary
rates lower in the continue increases as While the such should Palm with rates additional mentioned of the Orchid will driven Fed development grow XXXX, Advisory Royal revenue over appears by generally course attractive portfolio the at Island generate agency interest and the Under stable, to not may RMBS conditions bar be quite at high. as for Capital to services returns year. always. rate
by and bond cautiously are over Palm and going as forward. supportive of the be Capital funds will Operator, Island call that turn challenging my can We by Orchid levered a such the Royal for to environment prolonged Fed the prepared questions. may remarks. We over rate caused concludes conditions cycle optimistic hiking be
