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This week is about jobs–and after yesterday obviously it is about cost of jobs as the employment cost index came in hot. The ADP employment numbers have just been released–the forecast was for the creation of 183,000 new jobs in April. The number tod…

Early today I looked at the economic calendar and thought–“a relaxing day ” not believing that the economic news to be released would be so market moving. Boy was I wrong with the S&P500 tumbling a full 1 1/2%. Fortunately interest rates reacted a…

Below are press releases from companies with preferred stock and/or baby bonds outstanding–or just news of general interest. Redwood Trust Reports First Quarter 2024 Financial Results Equitable Holdings Reports First Quarter 2024 Results RenaissanceRe…

As I always hope for yesterday was a quiet day–certainly there was movement on a hour to hour basis, but overall with no economic news on the calendar investors mostly sat on their hands. The S&P500 closed up 1/3% while the 10 year treasury yield…

Below are press releases from companies that have preferred stock and/or baby bonds outstanding–or just news of general interest. Apollo Commercial Real Estate Finance, Inc. Reports First Quarter 2024 Results Ready Capital Corporation Announces First…

This may have been posted in comments somewhere–but just in case. Heartland Financial (HTLF) has agreed to be acquired. HTLF has a 7% fixed rate reset preferred outstanding (HTLFP) The press release is here.

Will this be a quiet week–probably not, but one can always hope. I love collecting dividends and interest without movement of capital values. Almost without doubt one can’t earn 7-8% without seeing prices bounce around – if you could earn this high yi…

I have noticed several articles lately about business development companies starting to show stress from bad debt. I have had concerns about this since the 1st interest rate hike from the Fed. It only makes sense that BDCs would start to show stress—…

Smallish Philadelphia bank Republic First was seized by the FDIC late Friday–the banks 32 branches will reopen as Fulton Bank on Saturday. Republic First has assets of about $6 billion. The cost of the failure to the FDIC will be around $670 million–…

There was an article that I ran across yesterday which should be of interest to most of us. The article is about who is running pension money now – in the ‘olden days’ it was major insurance companies (or the companies themselves) – now more and more i…

There has never been a time in history that investors and the general public have been so in tune with interest rate levels—at least that is my opinion. Of course the amount of data and continual news flow has never been greater. I remember back in t…

Below are press releases from companies with preferred stock and/or baby bonds outstanding–or just news of general interest. Golar LNG Limited – Q1 2024 results presentation Mortgage Rates Continue to Increase Vornado Announces First Quarter Earnings…