My Customers Bank (CUBI) preferred and debt are being annihilated – an understatement. And in spite of plunging interest rates almost all issues are losers. At these levels I will hold – as mentioned they are modest positions (but painful just the same).
I had a nibble order in for one of the First Republic issues 2 cents above the ask and it wouldn’t execute – so I cancelled and have decided I will sit and not pursue the ‘hero’ role for now.
I did notice that CD rates are holding up so there is always that safe haven (I think) for now.