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Well last week was another exciting week–although not in a good sort of way. I suspect we will once again have an up and down week in equities as folks continue to grapple with hot inflation and the correspondingly higher interest rates. On top of thi…

I have many current issues of baby bonds and preferred stocks that I am watching for potential purchase—in general right now I am targeting a current yield of 7% for these issues. I target mid-quality issues–of course mid quality is in the eyes of t…

Wow this market (both stock and bond) was totally slammed today. The 10 year treasury racing ahead by about 10 basis points to 2.03%—way too fast for my comfort. A little bit of heat in the CPI could have been tolerated but a month over month increas…

Well the 10 year treasury closed at 1.954% today after trading as high as 1.97%–right at the cusp of 2%. On Thursday we have the latest consumer price index (CPI) being released and like everyone I expect the year over year number to be 7.x%. Honestly…

Another exciting week in the stock market–although in a positive sort of way with the S&P500 closing the week at about 4501 which was about 1.6% higher than the previous Friday close. No doubt we will follow this week up with more volatile trading…

BDC Prospect Capital (PSEC) has continued to sell plenty of shares of the 5.50% perpetual preferred which is an untraded security (although they imply it may be listed in the future). In a press release today they said sales of the shares exceed $500 m…

I am not certain why markets have decided today to pay attention to the jobs number which showed 467,000 new jobs being created. Given that the BLS raised Decembers number by 300,000 from the previously announced number of 199,000 we know there is no r…

Well here we go with another jobs number tomorrow. Not that it really matters as I don’t think anyone pays much attention to the numbers anymore–they used to be semi-meaningful, but there is way too much ‘noise’ anymore to hold much meaning. Anyway th…

US Bancorp (USB) has priced their recently announced new perpetual preferred stock issue. The issue prices with coupon of 4.50% for 18 million shares (with another 2 million available for over allotment). The issue is investment grade. The issue is red…

US Bancorp h(USB) has announced they are selling a new US Bancorp–it will be USB-S when issued and trading on the NYSE. USB has numerous other preferreds outstanding which can be seen here. The issue will have a early redemption period starting in Apr…

With hot inflation and the fear of ever higher interest rates the investment grade low coupon banking issues have been really pummeled–those with coupons in the 4.0% to 4.50% area. There is a fair chance that being ‘perpetual’ these issues may truly b…

ABR has announced that they will be selling 3.1 million new shares of the 6.25% fixed to floating rate preferred (ABR-F) which had been originally issued on 10/4/2021. There will be an additional 465,000 shares available for over allotment. The shares…