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I’ve been waiting for 4% to be breached–and right now the 10 year treasury is trading at 4.03%. This is a mostly meaningful because it is a round number–psychologically important. Inflation is the culprit–not just in the U.S., but globally. Seems to…

Below are press releases from company’s with preferred stock or baby bonds outstanding–or just general news of interest. Cowen Announces Mandatory Conversion of Series A Preferred Stock Great Elm Capital Corp. (“GECC”) Schedules Fourth Quarter and Full…

I continue to be mostly in the ‘hold’ camp. On Monday I nibbled a few bonds–maybe boredom, but they are good bonds–in fact if I thought we had seen peak interest rates I would have bought a truck load instead of a nibble. With 13-14% cash I am in a c…

Below are press releases from company’s with preferred stock or baby bonds outstanding–or just general news of interest. UMH PROPERTIES, INC. REPORTS RESULTS FOR THE FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2022 Triumph Financial Announces Dividend f…

Yesterday we had durable goods orders for January tumble by 4.6%–oh wait the headline number is misleading and looking at the numbers less transportation we see orders were up .7%. On the other hand there are so many qualifiers to every piece of econo…

The new fixed-rate reset preferred issue from Huntington Bancshares has been priced. The fixed coupon on the issue is 6.875% which will remain effective until 4/14/2028 after which the coupon will reset at the 5 year treasury yield plus a fixed spread…

Below are press releases from company’s with preferred stock or baby bonds outstanding–or just general news of interest. I am out of the office later today will not publish late day headlines so this is just a partial report for the day. Pending Home S…

I just bought some corporate bonds of giant asset manager Franklin Resources (BEN) ($1.4 trillion under management). They are rate A2/A by Moodys and S&P. Maturity is 3/30/2025. Yield to maturity is around 5.4%. Cusip is – 354613AK7/ US354613AK71 I…

Banker Huntington Bancshares (HBAN) has announced a new fixed-rate reset preferred issuance. Dividends will be non-cumulative, but qualified for tax purposes. The issue will have a 1st optional redemption date starting 4/15/2028 which is also the time…

Last week the S&P500 moved lower by a hefty 2.6% as market participants began to realize that the Fed would be moving interest rates ‘higher for longer’. The 10 year treasury yield moved higher by 12 basis points to 3.95%, but the yield was knockin…

We are waiting on the Personal Consumption Expenditures (PCE) inflation data–this could be a huge market mover today–either up or down. Then after PCE we have at least 5 Fed yakkers who could pile on to the data in a hawkish way–most of their speak…

Below are press releases from company’s with preferred stock or baby bonds outstanding–or just general news of interest. Mortgage Rates Trend Up Alta Equipment Group Announces Date of Fourth Quarter and Full Year 2022 Financial Results Release, Confere…