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mREIT Arbor Realty Trust (ABR) has reopened their fixed-to-floating 6.25% preferred shares (ABR-F). The original issue is trading much lower today at $24.24. The number of shares to be sold will not be known until tonight. The original issue can be see…

Ok, so we have had some really wild times in the equity markets over the course of these last few weeks. Last week we had a little respite, although the week was red until Friday. The S&P500 sprinted higher by 2.43% on Friday to close the week up ….

As noted by Tex the 2nd (and others) in comments there was quite a bloodbath in preferreds today–in particular in the high quality, low coupon issues. My spreadsheet shows over 100 issues down 2% or more–bargains are being created finally–although t…

Well once again we had some wild swings in equity markets and then end the day with equities down and interest rates popping back higher. Almost without doubt there is more pain to come in equities. The 10 year treasury traded around the 1.78% yield ma…

Non publicly traded CEF Priority Income Fund has once again filed a registration statement for a new perpetual preferred offering. This new issue would be the PRIF-L when (and if) they get around to pricing the issue. The last issue that PRIF floated w…

Grind lower all throughout the 1st 90 minutes, stabilize for a couple of hours and then launch higher. Watching the charts there has been an epic battle of sellers and dip buyers–fun to watch, but glad to essentially not be involved, although income i…

What a crazy day in equity markets today. Not much to say about it since we were bound to get a bounce at some point in time, although coming in the middle of the day and bouncing back into green from way, way down was a bit of a surprise. Regardless o…

It is looking like we are going to have a wild week again as the equity futures markets which were up 1/2% last night are now down 1/2%. Last week the S&P500 fell by a whopping 5.6% which was capped off by a tumble of almost 2% on Friday. Interest…

Over night the 10 year treasury yield moved lower to be trading at 1.78% right now (6 am central). With turmoil in the equity markets the last thing we need at this particular moment is a giant spike in interest rates. The increase in rates over the la…

I had seen earlier today that CEF Priority Income Fund (not publicly traded) had filed registration statements for 3 new perpetual preferred issues. Ken had just made note of the same issue on Read Alerts. Recall that Priority had issued only ‘term’ pr…

mREIT Granite Point Mortgage Trust (GPMT) has sold more shares of their 7.00% fixed to floating rate preferred (GPMT-A). The company had sold 4.6 million shares on 11/22/2021. They are now offering another 3.2 million shares plus 480,000 for over allot…

Watching the equity markets all day is painful. Each time the indexes move higher a tiny bit sellers come in–lots of folks looking for exits in particular in the tech stock. The 10 year treasury moved sharply higher hitting 1.87%–up 10 basis points f…