AGNC Investment just reported a much better third quarter, with $0.78 per share in comprehensive net income and a 6% jump in tangible book value per share. Their monthly dividend payments were easily covered, and total economic return was 10.6% for the quarter—way up from last quarter’s loss. The turnaround was mainly due to the Fed lowering rates, which improved demand for agency mortgage-backed securities. AGNC is raising more capital and expanding its asset base, suggesting the high monthly dividend is on solid ground for now, assuming market conditions hold. AGNC’s ability to pay that yield seems a lot less shaky than what you typically see with sky-high dividends.