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Telecom Telephone & Data Systems (TDS) has priced a new issue of preferred stock today. The issue which is qualified and cumulative, prices at 6.625%. The company has a number of issues of baby bonds outstanding, but this is their 1st preferred sto…

Below is a snapshot of all new income issues (preferred stock and baby bonds) which have been issued since 12/11/2020–20 issues since that time. As shown some of the junkier issues have traded stronger than investment grade–a good share of the invest…

Business development company (BDC) Gladstone Investment (GAIN) has announced they will be selling a new issue of baby bonds. The company will sell the baby bonds, which will carry the ticker of GAINN, to redeem their 6.25% term preferreds (GAINM) curre…

Last week the S&P 500 traded in a range of 3885 to 3950 before closing the week at 3907–this is about a 7/10% loss on the week. The 10 year treasury yield traded in a range of 1.24% to 1.36% before closing the week at 1.345%. This is a sizable gai…

January was a very good month for me with lots of dividends/interest showing up in account and share prices holding steady. February not so good–but no surprise to me. I had begun to move out of the higher quality issues a few months ago–primarily be…

Over the last month or two I have seen it mentioned that some folks believe that the fixed to floating rate issues might work well in a rising rate environment. No one should forget that the ‘hedge’ against rising rates is based on 3 month Libor–not o…

Just a quick note that the following baby bonds are now trading. Ready Capital (RC) 5.75% notes (RCC) started trading yesterday and are now at $25.30 Terra Income Fund 6 (not traded) has 7% baby bonds (TFSA) which began trading last Friday and now are…

Just looking over the investment grade preferreds and baby bonds I see lots of red as the 10 year treasury has spiked around 9 basis points today. The losses are not very large in size–1/2% up to 1%. No big deal–BUT we are reaching the point where in…

Just a note to point out that Spark Energy (SPKE) which retails energy throughout the country should be watched closely. SPKE has a high coupon (8.75%) fixed to floating preferred outstanding (SPKEP) which is now trading at $25.50–right near the highe…

The S&P 500 rose rose by about 1.5% last week as it traded in a range of 3885 to 3937 before closing near the high at 3935–another week and another record high. The 10 year treasury traded in a range of 1.13% to 1.20% and closed the week out last…

The 10 year treasury is ‘knocking on the door’ of 1.20%–the highest yield since last March 18th. Inflation expectations continue to be front and center–hand in hand with the giant ‘stimulus’ package being put together by the clowns in congress. Watch…

In 15 years I have never posted something ‘just because’ it was funny–but for someone as old as me to damn near fall off my chair after watching a you tube video of a court hearing–it must be pretty good or I am just plain warped. https://youtu.be/mD…