Well we started off with a stronger than expected employment report at 7:30- a.m. which sent stocks into a tail spin and interest rates higher. Well so much for that – stocks were flat. Interest rates have done a huge round trip from starting at 3.50%ish then going to 3.63% and now back down in the 3.50% area.
My expected losses in my accounts didn’t materalize so I couldn’t add to my Customers Bancorp FTF (CUBI-F) preferred position (price was too high). I’m determined to pay only $25 for these as they are currently redeemable–they are now trading at $25.25–no thank you. I did go ahead and add to my Customers Bancorp 5.375% baby bond position (CUBB)–current yield of 6.54% with a yield to 1st call of 8.92%.
So we head into the weekend folks may still be looking for the highest quality issues with the best current yield or yield to 1st call–so here is another Google Sheet which is just an alphabetical listing with the ‘Investment Grade’ sorting tab—1 click and all the investment grade issues appear. This sheet is downloadable by users.