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I have to be away from my desk top computer for the balance of the week so will not be publishing ‘headlines’ at the end of Tuesday, Wednesday and Thursday as I normally do. Additionally I will be away from market news for the week–a very rare occurre…

I already owned a chunk of the Pennymac Mortgage Investment Trust (PMT) 8.50% baby bond issue (PMTU), but decided to go ahead and up my position at a price of $25.55. The bond has a maturity out in 2028 so premium I paid at this time is fairly inconseq…

$61 billion in assets, Valley National Bank (VLY), has priced their new fixed rate reset preferred. The issue prices at an initial coupon of 8.25% with a reset date in just over 5 years at the 5 year treasury plus a fixed spread of 4.182%. There after…

Below are press releases from companies with preferred stock and/or baby bonds outstanding-or just news of general interest. Safe Bulkers, Inc. Reports Second Quarter 2024 Results and Declares Dividend on Common Stock Dynagas LNG Partners LP Declares C…

I am sure most of you are aware that insurer Enstar Group (ESGR) has announced a merger and will be going private. My understanding of the deal is that the outstanding preferred shares of ESGR will be exchanged for similar new shares, but will not be l…

New Jersey banker Valley National (VLY) has announced they will be selling a new fixed rate reset $25/share preferred. While the banker doesn’t mention a ‘call’ in their filing they do have a fixed to floating rate issue (VLYPO) which is now paying a c…

Well let’s get this party rolling!! Last week the S&P500 was off by almost 1% from the close the previous Friday, although it felt more positive than the facts. The Dow Jones Industrial Average had some rather sharp movements capped off by a rise o…

We have seen some wild swings in markets this week–yesterday when a stronger than anticipated GDP was released equities moved fairly sharply higher before giving up the entire gain. Today we have maybe the most watched number of July being released in…

Below are press releases from companies with preferred stock and/or baby bonds outstanding-or just news of general interest. Mortgage Rates Show Little Movement Fortress Biotech Reduces Total Debt and Enters into New $35 Million Term Loan with Oaktree…

Wow yesterday was a pretty red day–I was out of the office all day long and was unable to watch the tumble, which of course would make no difference as I wouldn’t buy nor sell on a day like yesterday. Will these beatings in the tech sector continue? I…

Below are press releases from companies with preferred stock and/or baby bonds outstanding-or just news of general interest.  ARMOUR Residential REIT, Inc. Announces Q2 Results and June 30, 2024 Financial Position Raymond James Financial Reports F…

Each night I post ‘headlines’ and within those headline are quite a few for earnings of various company’s with preferred stock and/or baby bonds outstanding. Usually I take the opportunity to skim over some of the reports–in particular if I have expos…