Really–I counted an hour ago and there were 23 preferreds and/or baby bonds higher–out of near 700 that I track. Wow! Wow!!
The average $25/share preferred and baby bond is off 42 cents today.
Anyway I have been so tempted to buy in here–but I have resisted–I notice a few folks are nibbling here and there, but myself I want to get to at least noon Monday before making further decisions.
Here is the loser list–looks pretty ugly for shippers and lodging REITs.
I do note that my ‘old friend’ WR Berkley 5.625% (WRB-B) is trading at $24.91 and there is a month of accrued interest in it already. I will resist until Monday.
With stocks off around 2 1/2% right now the close today will be interesting—a nice bounce this afternoon would be comforting, but not sure who would be buying going into a weekend with the virus background at play.