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Over night the 10 year treasury yield moved lower to be trading at 1.78% right now (6 am central). With turmoil in the equity markets the last thing we need at this particular moment is a giant spike in interest rates. The increase in rates over the la…

I had seen earlier today that CEF Priority Income Fund (not publicly traded) had filed registration statements for 3 new perpetual preferred issues. Ken had just made note of the same issue on Read Alerts. Recall that Priority had issued only ‘term’ pr…

mREIT Granite Point Mortgage Trust (GPMT) has sold more shares of their 7.00% fixed to floating rate preferred (GPMT-A). The company had sold 4.6 million shares on 11/22/2021. They are now offering another 3.2 million shares plus 480,000 for over allot…

Watching the equity markets all day is painful. Each time the indexes move higher a tiny bit sellers come in–lots of folks looking for exits in particular in the tech stock. The 10 year treasury moved sharply higher hitting 1.87%–up 10 basis points f…

Well here we go. Another week with lots of economic crosswinds which are almost guaranteed to cause some large movements in the equity markets. Of course this doesn’t mean that every stock issue will move sharply–but the potential is there for sharp m…

Of course markets are closed today for the MLK holiday–but after the last week or two a breather is likely welcome. Friday the 10 year treasury closed at 1.77%–down from the high of the week at 1.81%, but right at the same level as last weeks close….

Eagle Point Credit (ECC) has made a call of numerous issues of ‘term prefeerreds’ and notes. The company which just sold a note issue with a 5.375% coupon (ECCZ) made a full or partial call on 3 different issues. They have made a full call on the 7.75%…

Eagle Point Credit Company (ECC) has priced their previously announced new issue of $25/share notes. The issue prices with a coupon of 5.375%. The issue pays quarterly interest payments Egan Jones has assigned a BBB+ rating to the issue. Being a baby b…

CLO owner (collateralized loan obligation) company Eagle Point Credit (ECC) has announced they are selling a new issue of notes ($25 baby bonds). The company MAY use the proceeds to redeem either the ECCB 7.75% term preferred and/or the 6.687% notes (E…

The previously announced new baby bond issue from BIP Bermuda (BIP) has been priced. This issue is an obligation of Brookfield Infrastructure Partners (BIP) The issue, which is investment grade, prices with a coupon of 5.125%. These notes have no matur…

Hold onto your hats since we have the Consumer Price Index (CPI) being released in just 3 hours. Expectations are for a reading of 7% on the headline number (year over year) with core CPI at 5.4% year over year. So the 10 year treasury closed at 1.75%…

Brookfield BIP Bermuda Holdings I Limited (BIP) will be selling a new issue of perpetual subordinated notes. Interest payments will be quarterly. There will be a optionally available redemption period for the company starting in 2027. These are perpetu…