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The 10 year treasury yield is at 4.30% right now after the FOMC meeting notes showed more concern for ongoing inflation then markets were anticipating. These rates are knocking down preferreds and causing some pain. Personally I got a nice batch of div…

Apollo Global Management (APO) announced pricing on their new Jr Subordinated Notes. The fixed-rate resettable issue prices at 7.625%. The issue resets to the 5 year treasury rate plus a spread of 3.226% in about 5 year and then every 5 years thereafte…

Below are press releases from companys with preferred stock or baby bonds outstanding – or just of general interest. Now that earnings season is done (or nearly done) I expect news to be slow. Apollo Prices Offering of Fixed-Rate Resettable Junior Subo…

Apollo Global Management (APO) has announced the upcoming sale of Fixed-Rate Resettable Jr. Subordinated Notes with maturity in 2053. Proceeds are being used to redeem 2 series of preferred stock – the AAM-A and AAM-B shares – both are 6.375% non cumul…

After ugly trading yesterday equities are trading around unchanged this morning as we await the release of the FOMC meeting minutes (at 1 p.m. central) from July. Yesterday we had retail sales released which were hotter than expected–while at the same…

Below are press releases from companys with preferred stock or baby bonds outstanding – or just of general interest. Now that earnings season is done (or nearly done) I expect news to be slow. Saratoga Investment Corp. Announces Distribution of Proxy M…

I’m certain most of you are aware that the $20/share Hawaiian Electric preferred shares took a real beating the last few days as blame for (or blame for contribution to) the Maui fire came home to roost. This is a replay of the California blame game fr…

Below are press releases from companys with preferred stock or baby bonds outstanding – or just of general interest. Now that earnings season is done (or nearly done) I expect news to be slow. Valley National Bancorp Declares Its Regular Quarterly Pref…

Last week was a near flat week in stocks as the S&P500 traded in a range of 4443 to 4527–closing at 4464 which was 14 points lower than the previous Friday. Interest rates moved in a about a 22 basis point range in the 10 year treasury (3.95-4.17)…

Below are press releases from companys with preferred stock or baby bonds outstanding – or just of general interest. Now that earnings season is done (or nearly done) I expect news to be slow. Mortgage Rates Rise for the Third Consecutive Week Oxford S…

Investors are piling into stocks this morning after the consumer price index came in about as expected. Investors who have ‘sat out the rally’ are dumping money in as fast as they can and the S&P500 is up 1.25% at this moment. The CME FedWatch tool…

Below are press releases from companys with preferred stock or baby bonds outstanding – or just of general interest. I have added in some earnings reports from some smaller banks to get a ‘flavor’ of where they stand relative to commercial real estate…