A Little of This and a Little of That

Well it appears that DJT has held a long awaited call with Xi this morning–although I can’t believe there haven’t been social media posts about it as of yet. I’m sure folks are reading all kinds of things into the lack of press on the matter (since I started this DJT has posted).

2whiteroses posted on a tender offer by Babcock and Wilcox (BW) for a couple of their baby bonds–their 6.50% issue (BWNB) and their 8.125% issue (BWSN)–both issues are getting big lifts in their share prices. Their 7.75% preferred stock (BW-A) also got a very nice bump higher (30%) on the news. Brave folks–or downright speculators (neither of which would include me) are partying on the news unless you are a buyer at the IPO in which case you feel somewhat better. I’ll have to dig a bit on this one and find out where the cash is coming from ($70 million).

Markets are kind of quiet today–all eyes no doubt on the jobs report tomorrow. Today we had unemployment claims and they continue to trend higher, but at a very gentle slope. Interest rates have held steady in the 4.37% area. We’ll see if rates hold in here–or will a slowly softening economy keep them drifting lower. Watching interviews this morning with some senators on the budget bill I was disappointed with some I previously considered fiscal conservatives–they said let’s just pass the BBB and then we can come back for budget cuts–what a joke–let’s get it done now!

I’m maintaining my plan to sit on my hands throughout the rest of this week–not seeing anything ‘I just have to have’ and 4.40% CDs work just fine for now.