Home

Since the markets are closed today we thought we would post a couple of website statistics. Below is a chart of the type of device used to access the website. As you can see for last year over 73% of visits to the website were made on a desktop compute…

Just a reminder to all that markets will all be closed tomorrow, Good Friday. This includes equity markets as well as bond markets. Looks like we have to find another way to entertain ourselves for a day.

UPDATE–we should note that bargain hunters have come into the Washington Prime Group preferred. The WPG-I issue is up $1.45 and the WPG-H is up $1.34. This on fairly heavy volume of 40,000 and 108,000 respectively. Honestly there aren’t many shakers a…

Midstream MLP Energy Transfer (NYSE:ET) has priced their most recent fixed-to-floating rate preferred units with an initial 7.60% coupon—about as expected. The coupon will be fixed until 5/14/2024 at which point the coupon will float at the rate of 3…

Giant MLP Energy Transfer (NYSE:ET) has announced the issuance of new preferred units. The shares will be the 3rd fixed-to-floating rate unit the company will have outstanding. The shares will carry with them the issuance of a K-1 at tax time. Shares w…

UPDATE–ETP has announced a new preferred unit offering–more to come. For some that are much younger than me you may not recognize the phrase “Tension on the Tape”. This phrase was used in the olden days to describe a fictitious (in my opinion) buildi…

The thrashing that started yesterday in Mall/Shopping Center REIT preferreds continues today, based on a number of recent articles in the Wall Street Journal and CNBC. Right now Washington Prime (WPG) issues are taking the largest poundings with the 7….

The 10 year treasury moved about 4 basis points higher today (to the 2.59% area) thus far–doesn’t appear to be any particular reason behind the move and certainly it is of no concern at this moment. Generally markets are quiet. The SP500 started off w…

It’s another snoozer of a day not only in the interest rate sensitive areas but in common stocks as well. The SP500 is off 1/10th of 1% and the 10 year treasury has moved less than 1 basis points. Yawn. We all know that after you start stringing togeth…

Last week was one of the quietest weeks of the year in the stock averages with the DJIA trading in a range of 26062 to 26437 and closing the week at 26,412. Of course on Friday the big lift was from 1 stock–The Walt Disney Company which rose almost 12…

The monthly Eagle Point Credit Company (NYSE:ECC) update is out for periods up to 3/31/2019. Of course ECC has 2 term preferreds and 2 baby bonds outstanding which is why we post these updates. The outstanding issues have all traded fairly strongly–yo…

As Nomad had predicted the new perpetual preferred issue from Sotherly Hotels (NASDAQ:SOHO) has priced with a coupon of 8.25%. The company will sell 1.08 million shares with an over allotment of 162,000 shares. The proceeds will be used to call the 7.2…