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On line and television content creator Chicken Soup for the Soul Entertainment (CSSE) will be selling some $25 baby bonds. ‘Yield talk’ is in the 9.5% area. The notes will matured in 2025 and will have a early redemption period starting 7/31/2020. The…

Well another sizable up day is in store in the equity markets today–with all of the futures markets up over 1%. There is so much liquidity sloshing around in the ‘system’ —so much in fact that even the Fed is adding no new money in the last 4 weeks….

As we have watched interest rates go down, down, down over the last few years it was only a matter of time before fixed-to-floating rate preferreds began to be impacted. Up until this point we have had just a few issues that were in their respective ‘f…

The new 7.25% baby bonds from BDC (business development company) Saratoga Investment (SAR) have begun trading. There was a ticker change in this issue–originally announced as SAC it has been changed to SAK. Bonds last priced at $24.82.

Last week was a loser week for the S&P500 as it traded with a low of 3004 and a high of 3155 before closing the week near the low at 3009–down about 3% on the week. With the SP500 around 3000 the index is off 7% year to date and about 12% off of t…

The last 3 weeks we have seen common stocks move lower by over 6%–which means that at current levels the S&P500 is 11% below the 52 week high. This mover lower is something I have expected–and the way it is occurring–not in a panic, but in an or…

Markets are taking a leg lower as folks wake up a bit from the never ending ‘v recovery’ chant. I’m doing nothing really. I have been selling a bit in the last week around the edges–i.e. for some of the utility baby bond issues which I held full posit…

Giant triple net lease REIT VEREIT (VER) has announced that they will be redeeming 6 million shares of the 6.70% perpetual preferred (VER-F) issue. Last week the company sold some debt and at the time stated they would likely redeem more of this giant…

I have not yet seen any pricing on the new Brookfield Infrastructure Partners (BIP) preferred issue.. I have noted that since the start of the pandemic that pricing is slower as is the movement from the OTC grey market to the permanent exchange. Some o…

AS NOTED BELOW IN THE COMMENTS FROM GRIDBIRD THIS ISSUE IS NOW TRADING UNDER TICKER WCC-A AND LAST PRICED AT $27.10 NOW ON ALMOST 200,000 SHARES. WE FIND NO RATING ON THE NEW ISSUE, BUT WESCO WAS RATED BB- BY STANDARD AND POORS AND ANIXTER WAS RATED BB…

Giant Canadian partnership Brookfield Infrastructure Partners (BIP) will be selling a new issue of preferred units (preferreds issued by partnerships are call ‘units’, not ‘stock’). This security will issue a K-1 at tax time. The shares will trade on t…

The S&P500 traded in a range of 2966 to 3155 last week before closing on Friday at 3098–a gain of around 2% on the week. The 10 year treasury traded in the range of .66% to .76% last week and closed at .70%. The Fed balance sheet FELL by $74 billi…