After a down day on Monday in preferreds and baby bonds we saw a nice bounce back on Tuesday and today–for the week we are now up a bit.
The 10 year treasury closed today at about 2.05% after hitting a high of 2.06%.
The Fed minutes from the January meeting were released this afternoon and were taken as somewhat dovish because of a lack of discussion on a 50 basis point rate hike in March. With the minutes equity prices turned around, after being down in the early part of the day, to end flattish (more or less).
For those that need some reading material to fill their evening (and put you to sleep) you can find the FOMC minutes here.
In the next 72 hours I will complete and publish my part 2 of watchlist securities which have potential for a 7% current yield.