In this video, Matt Koppenheffer reviews Invesco's (IVR -2.09%) latest earnings report and, more importantly, its current investment strategy. As agency-backed mortgage securities become more expensive due to Federal Reserve purchases, Invesco has shifted to non-agency mortgage investments. This reflects increased confidence in the American economy and housing market. Invesco isn't alone. Annaly Capital Management (NLY 0.59%) is also in the process of making a shift in its investment portfolio. While we've heard a lot of talk about improvement in the housing market and economy, these moves by Invesco and Annaly suggest that confidence in that conclusion may be growing.
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