What’s working: the Australian dollar, the Swiss franc, gold, triple tax-free muni bonds, treasuries and mortgage REITs, like NLY and AGNC. What isn’t working — practically everything else, especially the big banks and the big technology stocks, like CSCO, JNPR, NFLX and ORCL. Annaly’s earnings (NLY) were sound. Its leverage is down. Read more here. […]