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Yesterdays close in equity markets was really poor as selling continued right into the last minute–that pretty much wrote the story for today’s opening. Yesterday was the biggest drop in preferreds and baby bonds this week–and likely moved our person…

It was bound to happen–all common stocks have been pounded lower and now the baby (preferreds and baby bonds) is getting tossed out with the bath water. Since last Friday the average $25/share preferred and baby bond has fallen 50 cents (2% more or le…

I watch a few folks on Seeking Alpha–let me repeat–I watch a few folks on Seeking Alpha. I say watch because I will take any good idea I can find, but honestly most folks on SA don’t write to help you and hear me out–they write to create revenue. I…

Teekay LNG Partners (TGP) has reported earnings for the quarter and year ending 12/31/2019. At first glance earnings appear pretty darned good. The partnership has 2 high yield preferreds outstanding which are down a couple bucks this week. Earnings ar…

Well it looks like another day to review your holdings–I did it multiple times yesterday, but didn’t find anything to sell. I will do it again today–probably twice. No doubt the economy will be hurt by the corona virus reaction–and the odds that you…

Stocks took off for a good early gain–but those are now rapidly being given back. The 10 year treasury popped a couple basis points–but now has settled back to yesterdays close. I personally have reviewed all of my holdings a few times today–I haven…

CORRECTED–this issue is perpetual–no maturity date–earlier I had a maturity date in the chart below. mREIT MFA Financial (MFA) has priced their new previously announced fixed-to-floating rate preferred stock. The initial coupon will be 6.50% and wil…

I haven’t seen much discussion on the site about the Lodging REITs (and their preferreds), but as I was looking at the ‘big loser’ spreadsheet it was totally littered with lodging preferreds getting hammered lower by 2-9%!! Of course the hated Ashford…

So with the likelihood that we will see some kind of corona virus outbreak in the U.S. and further likelihood that folks will overreact to the news—then what? From my own experience I can say 1st off don’t willy nilly sell your portfolio–there are f…

I was a bit surprised when stocks opened up higher today–with the soft close last night I thought it might move lower, before a bounce was attempted. The good part about the stock selloff is that it is fairly ‘orderly’. No panic, just folks moving out…

mREIT MFA Financial (MFA) has announced the issuance of a new fixed-to-floating rate preferred. Yield talk is in the 6.50% to 6.25%. The issue will be unrated and will trade on the OTC Grey market (ticker not yet announced). MFA has a 8% baby bond outs…

With a breather in the downdraft in stocks and interest rates on pause–for now–it is a great time to once again review holdings to see if there are issues that you are laying awake nights worrying about. While most of the folks we hear from on the we…