Just reviewing winners and losers in the income issue market today there is nothing at all standing out.
Interest rates are barely moving while stocks have moved a bit higher (200 Dow points or so). Honestly everyone needs to focus on economic data to be able to make rational decisions. Tonight we are going to look closer at the data–in general data has been mixed, but we do note that the last consumer confidence number was off quite a bit–the consumer is the driver for this economy.
The other items we will likely do is unload some of our sock drawer utility issues. The intent was to hold these issues for a very long time, but when the Spire (SR-A) 5.90% issue is at $27.39, the Nextera 5.65% baby bond (NEE-N) is at $27.75 and the National Rural Utilities 5.50% baby bond (NRUC) is at $27.58% one has to consider a sale–EVEN if there is no place to go with the proceeds. The NRUC issue has a current yield of 4.99%–yikes–can I do a little better? Likely not with the high quality but money market is still in at 2.09% (Gabelli US Treasury Money Market–GABXX), but trending lower so a person has a month or two to try to deploy funds.