everyone. and the you've deck website that you, operator, Hopefully, our night. Thank we last good morning received put on
the be walking through end, at we'll I'll then session. have always, As And question-and-answer a that.
of start give an on the Slide to kind agenda. to Just of you X overview
during always, will and And did the both and just for in of quarter provide results of go talk portfolio, current as our aspects we am developments a As you going I and our then what for update of conditions start financial so about financial I all kind the everybody about detail, today. to hedges, with sit and highlights finally, will, so then which update, drove highlights I'll we forth, our in I'll those spend capacity results. terms and if the quarter, to quarter. some financial forth here the then through then of borrowing talking the market liquidity time
and including had interest from loss realized on interest net our the RMBS excluding to $X.XX RMBS includes with losses derivative net realized on swaps. derivative per had instruments, a and net swaps. $X.XX share of for gains So net and and interest income instruments, on our share of the unrealized that, per losses loss on per which earnings rate assets a of expense highlights financial quarter, our rate on interest share we $X.XX, and Net unrealized We same
share On past $XX.XX have dividends at book the All XX. $X.XX effected per declared including and QX, value per Company's subsequently today. one-for-five economic declared the its the dividends quarter. to offering In a Company been October June $XX.XX September $XX.XX versus XX, loss in paid in per numbers for declared $X.XXX dividends. the initial per of public in And the and slides split. Our the as adjusted the retroactively XX since was share this of this Company reflect share stock total all month, deck share and or XX.X% reverse share,
just operating in. to that been Now through the go we've market
As this X, you story been on for can Slide case some time. the has now see
lines forward treasury the there on or If left or either the side, line right you the curve. curve red or swap these the either the look at side the is,
in line as then As XX, curve last fun of of just green XXXX. to and is continue few The June the expects Fed price as of Fed of bringing in in is more again the XX not either the rising December, curve keeps the XX only probably week, in continues increases, market line the blue is XX as size market to the development one that smaller And higher end although you but those And the basis or and likely increases to see rates Friday. same next points hikes, a the the forward. XXX. raise
in and become restrictive extremely time is not territory, to raise trend has as only and minute, their do as about rates as through Fed that possible. so as to a we we'll in this in especially move desire into more year, continues soon the so this QX, aggressive, And hawkish but talk
inconvenient But this need is a don't the Slide X and at spend lot with all of familiar on look to time pictures. lot these slides, you a just of I If you're story.
of XXX inside here, little SOFR X%. the or respect got starting of it's and right swap but over XXX, it a off really at come the data meaningful both is to with over the shift, XX-year can you last data July, XX-year end was numbers a got swap, bit, point some As the see, sense, the XX-year SOFR of these In point at well is XX-year X%.
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done very XX.X% since so maintain and the our XX% since healthy unencumbered of assets end As of equity, cash between that and of our and the cash number We X/XX we've XX%, quarter. inception, balances. represented are basically,
calls the ample liquidity, have light. margin leading we have of any don't problem we So very
access fact, respect with to repo, very In to have repo. ample we
We of needs. have in capacity borrowing our excess
fact been the market basically, were models, in have was counterparty. raise And left. so more our other with exception their higher parties, was one was or that haircut slightly, just did That did the that had But don't algorithmic polls, told over it, the one the is way, it risk haircut by We've fair, be of haircuts haircuts seen Our really the they X%. last party. month portfolio even a their stable race volatility them kinds We had thing models, raising one RMBS much capturing that to remains about have their they by XXX% two. who have just is of haven't by X%. agency talked told
fund, of the leverage that I to been our high-level. to the And lot ability respect with we're our portfolio really decision-making ratio. to about Obviously, that quite we've talked driven level And are to that our I So sold and And fund. a to maintaining are these mentioned sold comfortable forward is point easy of when instruments that want allows a short with. for forward. million the out we And position XXX And we the We're very us. us, million actually just is that useful at remember, TBA was that because now. quarter. very, that end XXX these
against one, lot leverage us but of it it's that also hedge a So a very allows in of effective widening, flexibility terms basis maintaining our ratio.
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the So we in have spreads. seen some widening
was we spread actually the So the funding an earlier very a floating paid basically actually was over over in level. fixed far we rate at that of that put the in whereby SOFR a did year, some initiation course year, in tight
that's nice. been So
of finally, returns we QX, market same as our September obviously, in on the view attractive just so talking was in of the August, a available in volatility learned forth. and as we view that in of and August, lot situation late just markets, we But point, final terms up the terms case, Now, when show one the about assets are October. had
And level. so, a a have definitely at and leverage caution is maintain do to ratio safe we warranted
market be we ATM. We do somewhat have So while do the an extremely attractive, to have is cautious.
shares, ability past, prudent again, have case. when and the raise so capital, a ATM over so. weak to that and it's do little our in in we over plus being we any of the did as to back the we substantial can back buy if a may our recent if of We think not value. the outstanding sell sector it's instead But discount And shares said, that's bought most gets do X% XX we the at book in the shares course done days, to fact
end just containing driving So, volatility and so seems it we far, And rates and the hard keen we opposed the that And because that. that being just discount, Fed inflation. really data high that back very thinking -- conviction issue to is capture shares of keeps this buy lot is over rising of day, as the of to have shares, and try opted to on have the, strong. period it's a inflation is to
strong we're know with I we assume but being it, data more going to So the that occur. of has that's to to to to if conviction keeps see would any the same. don't when Fed Eventually, the and end will continue react going
turn And pretty will we call it. as we much That's operate with over that, have. to questions. will I to the continue So,
