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As I mentioned in my note this morning I took a nibble on the RiverNorth Opportunities Fund 6% preferred (RIV-A) yesterday. This is one which I had a full position in, but because of the safety of this issue going a bit overweight is fairly comfortable…

In a speech yesterday Fed chair Powell has tossed cold water on any realistic hope that investors have for Fed Funds rate cuts in the next couple months. Honestly finally he has come around to where he should have been all along – that you shouldn’t be…

Below are press releases from companies with preferred stock and/or baby bonds outstanding–or just news of general interest. Horizon Technology Finance to Announce First Quarter 2024 Financial Results Ontrak Announces 2023 Fourth Quarter and Year End…

So we have had almost 2 months where interest rates have been trending higher—the last time we had the 10 year treasury under 4% was back on 2/2/2024—from there it has been a constant push higher. During that time frame economic news has not been f…

Mortgage REIT MFA Financial (MFA) has priced their new baby bond with a coupon of 9%. The sold 3 million shares with an over allotment option for another 450,000 shares. The bonds have a maturity of 8/15/2029 with an early redemption available beginnin…

Below are press releases from companies with preferred stock and baby bonds outstanding–or just news of general interest. HTLF Schedules First Quarter Earnings Conference Call for May 1, 2024 Scorpio Tankers Inc. Announces That on May 9, 2024, the Com…

Wow the 10 year treasury is now trading at 4.63%–all based upon stronger retail sales continuing at strong levels. The consumer is saying buy, buy, buy–probably taking the credit card out as they just can’t help themselves. Equities which started the…

mREIT MFA Financial (MFA) has announced they are selling a new issue of $25 baby bonds. The bonds will mature in 2029 and will trade under ticker MFAO. MFA has a number of other income securities outstanding which can be seen here. The preliminary pros…

Last week was a relatively exciting week–not necessarily in a good way, but lots of movement in stocks and bonds. Personally I had some damage done to portfolios, but not severe and will hopefully start to get some of the losses back starting this wee…

I just noticed this article which covers some issues the mortgage market is currently having—rates have moved sharply higher in the last week. Here is my observation in this area of Minnesota. Many, many houses are sold with FHA or USDA loans—mostl…

Well it is Friday and from an interest rate perspective it has been a tough week–the 10 year treasury is now trading at 4.54% after hitting a high of 4.58% yesterday–20 basis points higher than the close last week. Of course we lost some money this w…

Below are press releases from companies with preferred stock and/or baby bonds outstanding. Valley National Bancorp to Announce First Quarter 2024 Earnings Mortgage Rates Move Toward Seven Percent as Markets Digest Incoming Data CoBank Quarterly: Stick…