v3.26.1
Note 5 - Derivative and Other Hedging Instruments - Schedule of To Be Announced Securities (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Cost basis   $ (189,107)
Market value   (189,937)
Net carrying value   (830)
Notional amount   180,000
Market value   (189,937)
Notional amount   (180,000)
Three and a Half Percent 30-year TBA Securities [Member]    
Cost basis [1],[2]   34
Market value [2],[3]   0
Net carrying value [2],[4]   (34)
Notional amount [2],[5]   0
Market value [2],[3]   0
Notional amount [2],[5]   0
Four Percent 30-year TBA Securities [Member]    
Cost basis   (215)
Market value [3]   0
Net carrying value [4]   215
Notional amount   0
Market value [3]   0
Notional amount   0
Five Percent 30-year TBA Securities [Member]    
Cost basis   218
Market value   0
Net carrying value   (218)
Notional amount   0
Market value   0
Notional amount   0
Long [Member] | Five Percent 15 Year TBA Securities [Member]    
Notional amount [5] $ (145,000)  
Cost basis [1] (141,270)  
Market value [3] (142,689)  
Net carrying value [4] (1,419)  
Market value [3] (142,689)  
Long [Member] | Four and a Half Percent 15-year TBA Securities [Member]    
Cost basis [1]   249,998
Market value [3]   250,186
Net carrying value [4]   188
Notional amount [5]   250,000
Market value [3]   250,186
Short [Member] | Five and a Half Percent 30 Year TBA Securities [Member]    
Notional amount (449,900) [5] (275,000)
Cost basis (448,564) [1] (277,696)
Market value (451,868) [3] (278,996)
Net carrying value (3,304) [4] (1,300)
Market value (451,868) [3] (278,996)
Short [Member] | TBA Contracts [Member]    
Notional amount [5] (594,900)  
Cost basis [1] (589,834)  
Market value [3] (594,557)  
Net carrying value [4] (4,723)  
Market value [3] $ (594,557)  
Short [Member] | Three Percent 30 Year TBA Securities [Member]    
Cost basis [1]   (343)
Market value [3]   0
Net carrying value [4]   343
Notional amount [5]   0
Market value [3]   0
Notional amount [5]   0
Short [Member] | Six and a Half Percent 30-year TBA Securities [Member]    
Notional amount [5]   (155,000)
Cost basis [1]   (161,103)
Market value [3]   (161,127)
Net carrying value [4]   (24)
Market value [3]   $ (161,127)
[1] Cost basis represents the forward price to be paid (received) for the underlying Agency RMBS.
[2] The Company has entered into offsetting long and short positions for these coupons.
[3] Market value represents the current market value of the TBA securities (or of the underlying Agency RMBS) as of period-end.
[4] Net carrying value represents the difference between the market value and the cost basis of the TBA securities as of period-end and is reported in derivative assets (liabilities), at fair value in the balance sheets.
[5] Notional amount represents the par value (or principal balance) of the underlying Agency RMBS.