Mortgage Real Estate Investment Trusts (MREITs) got clobbered starting February 20th and declined by over 50% before a small rally after the Fed/Congressional bailouts.
Year-to-date, mortgage REITs are down over 50%.
The Fidelity and Vanguard bond indices didn’t plunge as far and had a better rebound effect after the bailouts.
Mr. Freeze is still around for mortgage REITs.
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