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After the very weak trading in all equities last week it is no real surprise that today is extremely red. Income issues–preferred stocks and baby bonds are getting hammered as well–more in the investment grade perpetuals than in the shorter term baby…

A wild week is on tap for the coming week. Futures markets are off around 2% this morning as there is more talk of a 75 basis point Fed Funds rate hike on Wednesday after the FOMC meeting. Also, notably, crypto is getting crushed with bitcoin in the $2…

Watching the futures markets after the release of the Hot CPI numbers this morning I was confounded that the S&P500 was off just 1%–but now about an hour into the day it is off 2.50%. Interest rates which actually moved a little lower after the in…

With year over year inflation at 8.6% you can be certain that talk of a need for a 3/4% hike in the Fed Funds rate will heat up and will likely temper talk about a rate pause in September. So much for reaching peak inflation earlier this year. The 10 y…

Closed end fund, Oxford Lane Capital (OXLC), has priced there previously announced term preferred stock issue. The pricing is 7.125% with mandatory redemption on 6/30/2029. This is a monthly paying issue. OXLC has numerous term preferreds and baby bond…

Business development company (BDC) Horizon Technology Finance Corporation (HRZN) has priced their new issue of baby bonds. The bonds price at 6.25% and will have a maturity date of 6/15/2027, with an optional call available to the company starting on J…

Business development company (BDC) Horizon Technology Finance (HRZN) has announced they will be selling a new issue of notes with a maturity date in 2027. The company currently has 1 other issue of baby bonds outstanding which has a coupon of 4.875% an…

CLO owner Oxford Lane Capital (OXLC) has announced a new term preferred issue. The issue will have a mandatory redemption in 2029. The preliminary prospectus can be found here. OXLC has numerous preferred and baby bond issues outstanding and they can b…

Specialty finance company OFS Credit Company (OCCI) has released their semi-annual report for the period ending 4/30/2022. The company owns primarily the equity tranche of CLO’s (collateralized loan obligations). The equity tranche of the CLO is the hi…

The S&P500 traded in a range of 4073 to 4177 before closing the week out at 4109, which was down 1.2% from the previous weeks close. It looks like markets will move higher today at the open with futures up by over 1%—whether the gains are held, o…

Well we had the ADP employment numbers yesterday–forecast was for 299,000 with actual coming in at 128,000. Of course no one pays much attention to the ADP numbers. Today we have the ‘official’ government numbers which calls for the creation of 328,00…

What a crazy week last week was–apparently peak inflation has been here and now is behind us–at least this is how markets traded last week. Common stocks as well preferred’s and baby bonds all exploded higher. Well I suppose everything will need to c…