In this video, Matt Koppenheffer reviews Invesco's (NYSE:IVR) 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 (NYSE:NLY) 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.

Matt Koppenheffer has no position in any stocks mentioned. The Motley Fool owns shares of Annaly Capital Management. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.