After the very weak trading in all equities last week it is no real surprise that today is extremely red.
Income issues–preferred stocks and baby bonds are getting hammered as well–more in the investment grade perpetuals than in the shorter term baby bonds and term preferreds–as expected with the 10 year treasury yield spiking up to 3.27%.
Lots of the investment grade issues are down 2-4% and on the surface look like good opportunities to buy–of course it is likely in a month they will be better opportunities. There remains no hurry to deploy “dry powder’ into this market.
Investors should be identifying target buys–i.e. pick out investment grade issues now providing good current yield–of course we all are different so it depends on you risk tolerance .
If you haven’t already you might want to download the Google Sheet that has all the income issues on it. This sheet is sortable by sectors, credit ratings etc. This sheet is the one I like to look at because of the ability to sort for what I am looking for. You can find the sheet here.