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Making investment decisions even more difficult 3 month CD rates have now moved as high as 4.45% today (on Fidelity)–they had recently been at 4.40% after moving from 4.35% were they had been stuck for some time. Will they move to 4.50% soon? No one k…

Mortgage REIT PennyMac Investment Trust (PMT) has priced a new issue of senior notes. The issue prices at 9% for 4 million shares (bonds) which have a maturity date of 6/15/2030. PMT has 2 other senior note issues with coupons of 8.50% and 9% respectiv…

Below are press releases from companies with preferred stock and baby bonds outstanding. Additionally, news of a more macro economic importance may be posted. Earnings season is over for now and not much news is being posted by company’s that are of in…

Last year in August I had sold a position in the business development company (BDC) Runway Growth Finance, based on performance concerns and while I still have some concerns the company has improved some metrics. I bought a small position in the Runway…

The job openings and labor turnover report (JOLTs) moved higher from last months report–and above forecast. It is interesting that with all the ‘gloom and doom’ talk we just are not seeing any major moves toward softening in the economy. Over the last…

Below are press releases from companies with preferred stock and baby bonds outstanding. Additionally, news of a more macro economic importance may be posted. Earnings season is over for now and not much news is being posted by company’s that are of in…

My apologies for the 90 minutes of downtime experienced on the website. I don’t know yet what the issue was but the tech folks fixed it and will probably report in to me on the nature of the issue. Of course one never want the site down, but it seems t…

The inability of congress to make any real progress whatsoever on the budget deficit – or even anything that gives one hope that they may move in the right direction is stopping me from buying perpetual (or long dated bonds). I own a limited number of…

Well last week was certainly plenty exciting–as have been most weeks since the last presidential election. The S&P500 traded in a range of 5843 to a high of 5943. A range of less than 2% has been on the low end of the normal range – just maybe inv…

In the last 3 minutes of trading today numerous big blocks of the Spire 5.9% perpetual preferred (SR-A) were traded dropping the price from $23.85 to $23.40–shares did bounce a bit in the after market to the $23.59 area. This is a current yield in the…

Only God nows for sure where we will end this day—DJT was active on Truth Social just 15 minutes ago so anything can happen. As crazy as these days seemed, our portfolios have maintained their 13-month green stretch—although sometimes it has been by…

Banker UMB Financial (UMBF) has announced pricing of their new fixed rate reset preferred issue. The issue prices with an initial coupon of 7.75% which will be reset on 7/1/2030 at the 5 year treasury rate plus a fixed spread of 3.743%. It is highly li…