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My headline says ‘time to move interest rates higher’–but honestly it is way past time to move them higher. Going way back to 2012 or so the Fed refused to cut back QE (quantitative easing)–honestly they have screwed up in this respect for 8 years no…

After reviewing a bunch of options for the website and participation of folks in discussions I have decided to do an addition to the website. I have asked Chad to add a new ‘forum’ to the site. This will not replace anything in particular now on the si…

Brookfield Finance, an arm of Brookfield Asset Management (BAM) will be selling new $25 subordinated notes. The notes will carry a coupon of 4.625% The notes will be rated Baa3 by Moodys, BBB by S&P and BBB by Fitch–investment grade. Potential inv…

Arbitrage Trader on Seeking Alpha wrote about the Brookfield Property Partners (BPY) preferred units of which there are 3 issues outstanding. Summarizing–the shares are trading very low compared to similar real estate owners (primarily REIT preferreds…

In an attempt to get some data and commenting in a central location I have added a ‘Illiquid Security’ page–you can find it in the right hand menu. As always it is nice to have particular topic that is being discussed ‘here and there’ in one spot–the…

Those that are interested in my sortable spreadsheet should always check here for the latest versions with updates. This is updated constantly—as it has to be. I remove redeemed issues, add new issues etc probably every 48 hours. At this moment I hav…

Well the 10 year treasury has popped today to .75% which takes it to a level we haven’t seen since May. Thus far a 5 or 6 basis point move has not been detrimental to pricing in income securities–and likely won’t be unless the ‘pop’ is more like .125…

The S&P500 traded in a weekly range of 3323 to 3397 before closing the week at 3348 which is a gain of just under 2% on the week after closing at 3298 the Friday before. The 10 year treasury traded in a range of .64% to .72% before closing at just…

I have pondered recently whether I want to move into the domain of GridBird and try to snag some long term holdings of some $50 and $100 preferreds (illiquids). While I already hold the Tricontinental 5% preferred (TY-P) which I consider the most solid…

Long time publisher Doug Le Du is shutting down his various preferred stock and baby bond services. No particular reason was given for shutting them down. This, of course, will reduce options for folks to research and discover income issues. At this ti…

Below I outline a potential opportunity. Of course the issue is not investment grade and is non cumulative so it may not appeal to many–on the other hand where can you lock up 7.07%? The risk/reward seems reasonable. Today the 7.00% resettable preferr…

Storage giant Public Storage (PSA) priced their previously announced new preferred issue. The coupon will be 3.875%–not a giant surprise since they priced an issue in August at 4.125%. The issue is rated BBB+ by Standard and Poor’s and A3 by Moody’s….