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A few of our astute readers (sorry lost track of who these folks were) commented recently that baby bonds of the First Internet Bancorp (INBK) have a clause in the floating rate reset determination section of the prospectus that states the following–…

I see the equity futures are up near 2% today–which means absolutely nothing except traders love the movements up and down. I think we all know by now that the coronavirus is going to mean the U.S. economy is going to take a hit–exactly when and how…

The FED was in the market yesterday for $53 billion in a overnight operation–then today they came in for $100 billion in 1 day overnight repo–not sure I remember a $100 billion repo in the past–most have been in the $40-$50 billion range lately as t…

I know you folks were all ahead of me in seeing the gains today in your accounts. I was doing my real job for the 1st 90 minutes of the trading day and just opened my accounts–WOW! Virtually all of my accounts have now garnered the losses from last we…

Priority Income Fund (untraded) has posted their semi-annual report through 12/31/2019. Priority Income Fund is a holder of CLOs (collateralized loan obligations). The company has 6 outstanding term preferred which can be seen here. The filing by the c…

For those not watching the news the FED has just cut the Fed Funds rate by 1/2%. ‘Talking our book’–I hate this–there goes our money market 1.50%. Of course I thought this would happen Sunday night and everyone this morning thought it would wait unti…

Just a short note that we are in the process–a slow process–of adding fundamental data to the website for the ‘parent’ company of the issuers of preferreds and baby bonds. You may have noticed a box that looks like this on each page of the income iss…

It is great to have a market bounce this morning–just wish it was a bit more restrained (can’t please me I guess). I have 4 buy orders in now, but am not going to chase hard–all of the stuff I identified over the weekend moved higher quickly–so I wi…

The futures markets in stocks were way up and way down overnight–but now are up by over 1/2%. A guessing person would say we will be seeing some pretty wide swings today. Last week cost us personally around 2%–almost all of the losses on Thursday and…

Wow–here we go!! The S&P 500 opened last Monday at 3258, after closing the Friday before at 3338 and fell as low as 2856 on Friday before launching a fairly furious rally the last 30 minutes of Friday to close the week at 2954–a weekly loss of 38…

After a rocky start to global stock trading tonight, China, Japan and U.S. stock futures have all turned nicely higher. The S&P500 and DJIA futures are both up near 1%–not a giant move higher, but maybe one which is signaling that the world isn’t…

As a reminder Seaspan has reorganized and is now Atlas Corp (ATCO) effective 2/27/2020. We have updated individual security pages and are in the process of updated spreadsheets. Note that the 7.125% baby bonds (SSWA) are being delisted, but the company…