Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities:
Net income (loss)	$ 62,812	$ (30,435)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:
Realized loss on sales of investments, net	1,506	74,916
Unrealized (gain) loss on investments, net	(80,873)	121,491
Loss on derivative instruments, net	(11,707)	(195,698)
Amortization of investment premiums, net	38,177	58,102
Other amortization and depreciation	1,358	1,739
Share-based compensation expense	6,168	3,600
Increase in accrued interest receivable	(2,691)	(11,496)
(Decrease) increase in accrued interest payable	(4,624)	26,718
Change in other assets and liabilities, net	(10,876)	(3,308)
Net cash (used in) provided by operating activities	(750)	45,629
Investing activities:
Purchases of investments	(1,434,612)	(3,208,774)
Principal payments received on trading securities	305,353	70,155
Principal payments received on available-for-sale investments	57,026	152,339
Proceeds from sales of trading securities	13,782	348,091
Principal payments received on mortgage loans held for investment	665	701
Net receipts on derivatives, including terminations	37,962	209,209
(Decrease) increase in cash collateral posted by counterparties	(38,106)	24,192
Net cash used in investing activities	(1,057,930)	(2,404,087)
Financing activities:
Borrowings under repurchase agreements	45,930,308	16,345,414
Repayments of repurchase agreement borrowings	(44,887,522)	(13,987,589)
Proceeds from issuance of common stock	267,891	36,676
Cash paid for stock issuance costs	(231)	0
Payments related to tax withholding for share-based compensation	(948)	(446)
Dividends paid	(83,090)	(69,038)
Net cash provided by financing activities	1,226,408	2,325,017
Net increase (decrease) in cash, including cash posted to counterparties	167,728	(33,441)
Cash including cash posted to counterparties at beginning of period	237,864	449,877
Cash including cash posted to counterparties at end of period	405,592	416,436
Supplemental Disclosure of Cash Activity:
Cash paid for interest	$ 236,672	$ 115,266