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I try to watch the coverage ratio that each of the closed end funds (CEFs) have on their ‘senior securities’. As most of you know CEFs have to have a coverage ratio of at least 200% on their preferreds. If the value of their portfolio takes a steep stu…

We have a reader requesting this page so I am posting it for them.

If you read the FOMC minutes from the July meeting you know that they are backing themselves further into a corner relative to a interest rate cut. A rate cut will happen in September UNLESS we get hot inflation news and/or huge employment gains in the…

Below are press releases from companies with preferred stock and/or baby bonds outstanding-or just news of general interest. Now that we are very near to the end of earnings for the quarter ending 6/30/24 news will be somewhat slow once again.  Old Nat…

For those interested the FOMC meeting minutes from the July meeting are out and can be read here.

As I mentioned earlier I was pondering some sales in my portfolio—and I have sold 2 issues. I had held the Customers Bancorp (CUBI) 5.375% baby bonds (CUBB) for quite some time—and honestly it hasn’t performed since the original. I expected the iss…

Equities are quiet this morning and interest rates are just hanging around 3.81%. Markets are waiting on economic news. This afternoon we have minutes from the July FOMC meeting being released. While we know the outcome of the meeting we don’t know all…

Below are press releases from companies with preferred stock and/or baby bonds outstanding-or just news of general interest. Now that we are very near to the end of earnings for the quarter ending 6/30/24 news will be somewhat slow once again. Valley N…

Below are press releases from companies with preferred stock and/or baby bonds outstanding-or just news of general interest. Now that we are very near to the end of earnings for the quarter ending 6/30/24 news will be somewhat slow once again. First Me…

If anyone claims that stocks are too high they likely have been blaring the same message for months–if not years. It is not possible to predict even the next day movement in stock prices—one can make guesses, but that is all they are — guesses. Tod…

I like boring—watching paint dry relative to equity and interest rate markets is always fine with me—I wish we could count of boring nothingness for years. Of course this is dreaming because it is in the interest of some market participants to driv…

Well we got lots of decent economic news this week and while common stocks moved around (mostly higher) more than I like to see, preferreds and baby bonds have traded pretty steady without crazy pricing (either up or down) and average prices are up a b…