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The S&P500 closed at record highs on Tuesday before the holiday yesterday–and now equities are up relatively sharply this morning. Once again it appears that tech issues are leading the charge as NASDAQ is charging higher. The 10 year treasury yie…

Below is the pricing detail on the new issue announced last night. The yield is juicy but the banking company has some potential issues with commercial (CRE) real estate–please do your due diligence before investing. A complete credit analysis can be…

Bank of Hawaii (BOH) has announced pricing on their new non cumulative perpetual preferred stock issue. The issue is priced at 8.00% for 6.6 million shares. The early redemption date starts 8/1/2029. The issue is rated Baa3 by Moodys (on negative credi…

Below are press releases from companies with preferred stock and/or baby bonds outstanding-or just news of general interest. News will be slow for the next 4-6 weeks until the 2nd quarter earnings season arrives.  Gabelli Multimedia Trust Announces Rig…

Bank of Hawaii (BOH) has announced a new issuance of non cumulative preferred stock–price talk is in the 8.125% area. BOH has a current preferred outstanding with a 4.375% coupon (BOH-A) which trades around $15.58 with a current yield of around 7%. NO…

My question – what is your number–meaning do you have a target for returns in your portfolio> I write all the time about my ‘target’–I like to see 7%. Of course in the age of inflation that would seem to be inadequate, but inflation won’t be here for…

Farmer Mac (Federal Agricultural Mortgage-AGM) announced after the market close today that they were calling for redemption their 6% fixed to floating (AGM-C) perpetual preferred shares–the effective date is 7/18/2024. The issue was moving to floating…

Below are press releases from companies with preferred stock and/or baby bonds outstanding-or just news of general interest. News will be slow for the next 4-6 weeks until the 2nd quarter earnings season arrives.   Energy Transfer Submits HSR Act Filin…

Little Sachem Capital (SACH) is selling an issue of $1000 notes to pay off their maturing SCCB 7.125% baby bonds on 6/30/2024. ADDITIONALLY they may call all of or a portion of the SACC 6.875% baby bond which mature on 12/30/2024. The prospectus for th…

Mortgage REIT Redwood Trust (RWT) has priced a new issue of baby bonds. These were priced on Friday 6/14/2024. The issue prices at 9.00% and will trade under ticker RWTO. It will likely be a week before the issue starts to trade. The priced 3.4 million…

Last week we saw the S&P500 move up higher on the week by 1.6% as economic data last week seemed to portend a modest slowing of the economy and interest rates moved lower. Of course a slowing of the economy can cut both ways in the stock market, bu…

The ocean shipping sector has been a profitable sector for a number of years now, which means the the companies in this sector are mainly pretty well off financially with cash on the balance sheets. Costamare Inc (CMRE) which has been mainly a contains…