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Tsakos Energy Navigation is selling a new issue of fixed-to-floating rate preferred stock. The new issue will pay qualified dividends and will be cumulative The company has 3 fixed rate preferred issues outstanding and they have coupons of 8% to 8.875%…

Enstar Group Limited (NASDAQ:ESGR) has priced a new fixed-to-floating rate preferred tonight with an initial coupon of 7% which will remain in place until 2028 at which time the rate will float at 3 month Libor plus 4.015%.  While the spread in 10 year…

As noted by our reader SteveA, along with other readers, the new Unum Junior Subordinated Notes due 2058 have begun to trade on the NYSE. All the details on the issue and the prospectus can be found here.  Shares are trading right around $25 now.  This…

The Medium Duration Income Portfolio is now performing exactly as expected. This portfolio was formed in February, 2018 and thus is in the 4th month of existence. At this moment the portfolio is up 1.58% and should approach 2% by the end of the month. …

While we seldom are concerned when equity markets drop as many times these drops are supportive of the income markets we invest in, we have now entered a period where equity markets can “drag down” preferreds and baby bonds–this occurs when investors…

We are gearing up (mentally) for an active week in the stock and bond markets.  Almost without question the tariff situation globally and in particular with China is going to cause some pain and suffering in some commodity markets as well as potentiall…

It seems that the only time interest rates fall is when we have an “event” of some sort–in this case the tariffs placed on China. Rates fell into the high 2.80’s before rebounding back up to 2.91%–we watched preferred stocks and baby bonds and there…

The fixed-to-floating rate preferred from Spark Energy (NASDAQ:SPKEP) has slowly crept higher–day by day as we close in on the ex-dividend date of 6/28. The dividend for this period was declared a month or two ago and it looks like buyers want to lock…

As we expected the Fed hiked the Fed Funds rate–looking at the bright side that means when we open our Fidelity account on the 1st of the month we will have a tidy payment for our money market holdings.  It seems like we can never stay fully invested-…

A reader has informed us that the new Cowen 7.75% baby bonds are now trading under the symbol of COWNL (same ticker as the old called bonds–thus our chart shows strange historical pricing). Last trades have been in the $24.94 area.

Georgia banker Synovus Financial (NYSE:SNV) has sold a fixed-to-floating rate preferred stock. The initial coupon will be 6.30% Being a bank this issue is non-cumulative, but is qualified for lower taxation rates. The shares will trade with the fixed r…

I know we have many holders of the NuStar floating rate senior notes (NYSE:NSS) that are on the site and I just wanted to pass on that I sold my personal holdings of 400 shares of NSS at $25.95.  Just too good to not lock down the capital gain at this…