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We can’t predict what next week will bring, but we sure can see that last was the best week income investors have had for months and months. The average $25/share preferred and baby bond was up by about 1.6% as interest rates (as depicted by the 10 yea…

One of my favorite mREITs Arbor Realty Trust (ABR) has posted earnings for the quarter ending 6/30/2022. With the release they also raised their common dividend. Earnings were slightly soft, but all things considered they remain respectable. ABR genera…

Morgan Stanley (MS) priced the previously announced preferred stock. The 40 million share issue prices with a 6.50% coupon. The issue is investment grade. The issue is non cumulative and qualified for preferential tax treatment. MS has lots of preferre…

Morgan Stanley (MS) has announced they will be selling a new issue of perpetual preferred stock. The issue is non cumulative, but qualified for lower tax treatment. MS has quite a bunch of preferreds already outstanding which can be seen here. The prel…

Well the first read on GDP for the 2nd quarter came in much weaker than expected at a -.9%. This follows a contraction of 1.6% in the 1st quarter. While the ‘talking heads’ debate whether it is or isn’t a recession my only question is whether it is sho…

While equities have been soft today with a sell off in the 1.17% area (S&P500) treasuries have been kind of strong. The 10 year treasury has been hanging right in the 2.78-2.79% area all day–3 basis points below yesterday–a somewhat strange place…

Well we know this week will be an exciting week as we have a 75 basis point Fed Funds rate increase starring us in the face–oh well this has been known and considered for weeks so likely no surprise here (well really I have no idea) Of course it reall…

Business development company Runway Growth Finance Corporation (RWAY) has priced the previously announced notes with a coupon of 7.50%. The issue has an early call date in 2024 with the final maturity in July 2027. The company is selling 2.8 million sh…

Business development company Runway Growth Finance Corporation (RWAY) has announced they will be selling a new issue of notes with a maturity date in 2027. Runway Growth focuses on loans in the technology and life science sectors and has $762 million i…

BDC Trinity Capital (TRIN) has priced the recently announced issue of 7% notes. The issue comes to market right around $25/share The permanent ticker is TRINL and it will trade in the next week or so–there will be no OTC trading. NOTE—this is not a…

The goosy market of yesterday turned into a rallying market today. Why? Of course there is no answer why specifically the S&P500 was up over 2.7% today–peak inflation is behind us–the Fed is going to back off on rate hikes–energy prices are comi…

Business development company Trinity Capital (TRIN) has announced they will be selling an issue of 7% notes. NOTE the company previous sold $125 million in these $25 baby bonds–I do not find where the previous issuance is exchange traded–the company…