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We are in the typical goldilocks period when interest rates have already spiked higher and now are drifting back waiting for the next ‘event’ before potentially moving higher. Long time investors in preferreds and baby bonds know this is the time to re…

Business development company Fidus Investment (FDUS) is selling a new $1,000 note issue with the intention of calling their outstanding baby bonds. The company has 2 issues outstanding and the intention is to call both of these issues. These issues can…

I love September 30th (and the last days of March, June and December). The last day of the 3,6,9,12 months are huge dividend days for income investors. September was NOT a terrible month for folks holding preferreds and baby bonds (a general observatio…

In what has to be one of the largest knocks preferred investors have taken on a call in recent memory Popular Inc. (BPOP) has announced the redemption of their 6.70% Trust preferred issue (BPOPN). The call is for 11/1/2021. Shares had traded just shy o…

Tele medicine company LifeMD Inc. has priced the previously announced perpetual preferred. They have priced 1.4 million shares with a coupon of 8.875%. There are another 210,000 shares available for over allotment. The issue becomes redeemable 1st star…

Telemedicine company LifeMD Inc (LFMD) has announced they will be selling a new preferred stock issue. The announced quantity of shares is 1.4 million, plus up to 210,000 for over allotment. LifeMD was previously named Conversions Labs. The offering wi…

After a rough start to the week it looks like today we will get a ‘pause that refreshes’. I would be surprised to see the gains last long–but flat on the day is fine. The S&P500 futures are up near 2/3% and the 10 year treasury after hitting 1.57%…

It was red today–almost solid red. With the 10 year treasury up 5 basis points for the day we normally wouldn’t see so much red in preferred stocks and baby bonds, but we sure had a sea of it. It goes to show you that reactions to higher rates varies…

A quick look at the markets early (5 am) this morning is a bit scary–a perfect storm seems to be brewing. Spiking energy prices and rising interest rates – certainly are troublesome. I have thought that we would see higher interest rates with all the…

So today we saw the 10 year treasury move to 1.505% for the 1st time in June before backing off a little and closing at 1.485%. Oh well–not such a big deal. The difference this time is expectations are for continuing higher rates–as we all know it is…

Just skimming through issues that are trading on the OTC market and do not have up to date information filed with the SEC some are falling hard on large volume. In particular I noted AmTrust Financial which has 6 issues in the ‘no info’ category, has a…

Well last week was plenty wild and proved that equity markets can move down, but it also showed that the ‘dip buyers’ continue to do what they do – buy dips. The S&P500 was up about a 1/2% last week which leaves the index about 2% off of record hig…