and you, operator, Thank good morning.
impacts monetary the brief have labor the by Federal in appeared to a synopsis the give orchestrated events I'll during and The policy quarter. have on the the desired finally First, imbalances of impacts inflation of tight market. Reserve in have steadily spending the closing unemployment slowing, is and in hiring on consumer has target Inflation while remained Fed's robust and risen. rate are growth and X% In throughout. contrast, wage growth economy the
Fed basis consumer latest as the by XXXX for it reduced rate released cuts. many anticipated market report above. the much case, after Fed early live the points market well on the the the inflation this October by funding so be XX of rate the first the was of September If be mentioned cuts up spending, not readings in may and Unfortunately, such overnight not additional to expectations the late proves In payroll and nonfarm and all. weakening September, as urgency magnitude may economy the to imply
increased third Now turning equity to million million. of $XXX.X XXXX quarter net the $XX.X our Capital of and for Island results. shareholders' from Orchid to income million its reported $XXX
nearly decline advisory revenues course revenues year-to-date. increase over to the base XXXX. so XXXX, capital over As XX% far substantially fully bases reversed Orchid’s yet of Orchid's $X.X in X% XX%, and service of declined Bimini's a second a approximately although result, the be the down capital advisory has year-to-date, million are service quarter. represented increased
shares portfolio Orchid from on prior net million, down quarter. the of of interest very Island, $X.X income The our inclusive of investment generated slightly dividends
for million versus XXXX. months income the net of was period, $X.XX year-to-date $X.XX interest the first For million X
The XX, XX% grown Palm at by since XX% June RMBS XXXX. Royal approximately portfolio has year-to-date and
costs by the Federal costs short-term X.X% our should continue slightly margin. Our our to X Otherwise, decline rates funding the quarters. funding for as and X.X% past Reserve, between enhancing interest net have potentially be varied reduced
return RMBS quarter RMBS for basis, quarter returns hedge as X.X%. an versus and index XX, The gains of netted portfolio, Agency our for the of X.X% hedge proxy the comparable and on Mark-to-market million for operations on the income other excess swaps our was on Orchid period and reported for and $X.X X-month ended the to the of absolute losses duration for return position million shares statement September of income $X.X XXXX. was
the of of taxes versus The company, before XXXX. quarter Services Portfolio million of taxes segment $X.X of for reported before $X.X segment Investment income both loss net the the Advisory quarter for net a million inclusive and second the
X-month the $X.XX income net period ended income For million. September our XXXX, taxes was -- interest before net XX,
the provisions $X.X ended respectively. a $X.X of X- X-month September XXXX, and million XX, and tax Bimini For million, periods reported
market sentiment Reserve. continues. for outlook and be in that rate rate reversal in September fourth started by further the the As interest the cuts in economy the appears perceived unfolds, the late The the of quarter Federal levels strength rethinking to
expansion. be With fiscal the the with Presidential the being deficit Republican election a implications accompanying on sweep pro-growth to possible with the market would seems horizon, anticipate they
and hedges. have As are mortgages underperformed interest higher result, rates a their
our basis FOMC another market rate. meeting There's reduction another expects in funding the overnight point also and week, Fed, next XX
to are course. available excess We using considering its the when has we portfolio grow sense move run funds the
forward is to year-end. and you the look of once election determined outcome We again will see how with things speaking look the after
turn operator, questions. can we the over Thank to and call you,
