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As anticipated and noted by readers Energy Transfer Partners (NYSE:ETP) has priced their new fixed-to-floating rate preferred with an initial coupon of 7.625%. The coupon will be fixed until 2023 after which it will float at a rate of 3 month Libor plu…

Giant MLP Energy Transfer Partners (NYSE:ETP) has announced intentions to issue a new Fixed-to-Floating rate preferred stock issue. Details of the issue have not yet been announced. ETP had just sold a f-t-f issue in April with an initial coupon of 7.3…

Last week was a relatively positive week with the DJIA having a low of 24,518 and a high 25.043 — with a close near the high of 25,019 with shares moving higher based on optimism for announcements of higher earnings in the weeks ahead.  Interest rates…

As CHS (Cenex Harvest States) is a company which many investors hold preferred shares we note that the cooperative reported earnings yesterday. The company had net earnings of $229 million against a $45 million loss a year ago.  They did have a $51 mil…

By now most everyone has read the expose on Seeking Alpha on Farmland Partners (NYSE:FPI). We have disliked the company since they came public back in 2014.  What we have most disliked about the company was the pricing of the shares (over valued) and t…

In spite of trade tensions ramping up income securities are steady as interest rates are steady with stock prices falling off a bit.  Thus far the tariffs announced are mostly just announced with just a small portion actually in effect, but we really n…

JMP Group has announced a partial redemption of their 8% Senior Notes (NYSE:JMPB) which became redeemable on 1/15/2016. The redemption will be $10,000,000 of the $46,000,000 outstanding so the majority of the issue will remain outstanding.  The redempt…

We have searched high and low for the perfect security (which never really exists) to add to the Enhanced High Yield Portfolio and have settled on adding the Cowen Inc. 7.35% Senior Notes due 2027 (COWNZ) Cowen had recently (last month) sold a 7.75% ba…

Common stocks are taking a nice leap higher today based upon a super outlook for earnings which will begin to be released for the 2nd quarter.  Obviously this doesn’t make too much difference to us as we seldom own common stocks.  On the other hand we…

Another week starts with the likely news of the week being tariffs and the Supreme Court nomination. Everything thing else will likely take a backseat. Last week we had a 10 year treasury which traded in a relatively narrow range of 2.81% to 2.87% befo…

Looks like we are cruising into the weekend on a very quiet note.  Apparently all the worrying and gnashing of teeth over the China tariff was done before the actual event as today equity markets are extremely quiet–guess we are also entering the dog…

Because of our continuing crushing workload we haven’t been able to always catch new issues. Fortunately readers can catch them (they always do).  Reader Jon notified us on a new Term Preferred with a mandatory redemption in 2025. Closed end fund Prior…