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Well we are seeing a bit of relief today in the 10 year treasury yield which is now trading at 4.56% which is off about 6 basis points from last weeks close. I don’t see any particular reason for the movement–could just be that lots of bond folks are…

Well how are we going to end the year– can we get a late year rally or will we see the continuation of some profits taking? Of course no one knows–but there are plenty of unknowns for the year ahead so maybe we will simply tread water for the week. O…

Yesterday we got 1st time unemployment claims which came in at 219,000 which is relatively tame compared to a forecast of 224,000 BUT continuing claims came in at 1.91 million which is up from last week which was at 1.87 million. As I have mentioned I…

The CLO owner company’s – Eagle Point Credit, Oxford Lane etc, hold portfolios of leveraged loans–loans to company’s rated BB or lower. As such I watch the data on the overall collateralized loan obligation (CLO) market whenever I can find it. Here is…

News is always slow until earnings season, but today (and likely tomorrow) are incredibly slow–I think everyone has taken an extending holiday. Mortgage Rates Continue to Rise Hyperscale Data Completes $50 Million of the Aggregate $75 Million Preferre…

I bought shares of CLO Owner OFS Credit 5.25% term preferred (OCCIN). While the coupon is rather low the yield to maturity is pretty good at just under 8% (maturity is 12/31/2026). OFS is a rather small closed end fund–just $240 million in assets. The…

I’ve continually wrote of my current belief that interest rates (long rates) may go higher–simply because of the supply of Treasury debt that has to be sold for the foreseeable future. Thus far I see no real reason to change my thoughts on this topic….

Well, it is that time of year for holidays. For some of us it is a time of memories of years gone by and family members who are no longer with us. For others it may be a time when families gather together and share small talk, gifts and a hearty meal….

Below are press releases from companys with preferred stock and/or baby bonds outstanding–or just news of general interest.  Earnings season is pretty much over so we will have slow news days for a month or two.  ICE First Look at Mortgage Performance:…

I own 2 different issues of BrightHouse Financial (BHF)—I own the BHFAP 6.60% issue and the BHFAN 5.375% issue. As I surveyed holdings this weekend I said to myself ‘what the heck were you doing buying that issue’? This was in reference to purchased…

It was kind of a ‘wild’ week last week–so are we going to have more of the same this week? Actually this week could be a bit quiet with the Christmas holiday dead in the middle of the week on Wednesday–actually equity markets will close early on Tues…

Maybe this is why mother Fidelity is getting so goosy about the purchase and sales of preferred shares. Here is an article on UBS, Wells Fargo Advisors and RBC about some of there activities around preferred shares held by clients.