A Pause That Refreshes

After a rough start to the week it looks like today we will get a ‘pause that refreshes’. I would be surprised to see the gains last long–but flat on the day is fine.

The S&P500 futures are up near 2/3% and the 10 year treasury after hitting 1.57% yesterday (but closing at 1.53%) has traded down to as low as 1.49% overnight–now at 1.50% at 6 a.m..

The biggest issue on the agenda at this moment is the debt limit ceiling issue–resolution of this issue may set stocks up for a ‘relief rally’ late in the week or early next week–we’ll see.

If you in the mood for a little bargain shopping this page shows all the $25/share preferreds and can be sorted to show losers (the potential bargains). I am always watching, but buying is limited as there is likely more interest rate pain ahead–just doing a nibble here and a nibble there.

7 thoughts on “A Pause That Refreshes”

  1. I find it interesting Tim looking at the F-F list from close of trading yesterday that it was solid green from all the gains except of course the few I own of CUBI Ha!

  2. high quality issues starting to fall back to reality
    IPLDP
    ALP-Q
    could be at par in the next few months
    and USB-Q could get clobbered
    I jumped the gun on TDS-V – never thought the fed would actually think about doing anything about inflation
    I’m getting excited

  3. Lot of financials on the list Tim.
    Had a order fill yesterday on the BRG-PD
    Went through your list of F to F last night and put in a few bids for today.
    Realized as a after thought, all the stocks getting de-listed and going on fire sale prices this past week there might be a gotcha to buying them. I hope the people buying them managed to secure enough to pay for any brokerage fees attached to transfer of divided payments that may eat up some of the profit.
    Got to thinking of those transfer fees when I thought about upcoming payment for WTREP

    1. Charles M — I wasn’t aware that there are transfer fees to get the dividends from the ones that are now on the Expert market. Can you explain? Thx

      1. Will just have to wait and see. I think it was Justin? who mentioned that since the stock is de-listed the dividend will have to be manually entered to be transferred from the payee through the transfer agent to my broker.
        If that is what he meant, then for a little guy like me, I could likely see a service charge.
        I could be wrong,

        1. Charles, my experience is that will not happen. I own all sorts of delisted preferreds and that has never happened. Issues such as IPWLK, AILLN, CNTHO, etc. are all delisted preferreds also. The only difference between them and the old WTREP is the latter isnt tradeable now.

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