This afternoon I am walking on the wild side–that is relative to my normal ultra conservative investing style.
I bought a small position in the newer PennyMac 8.50% Senior Notes due 2028. I paid $24.98/share for my ‘taste’.
Honestly I have been trying to force myself to buy some high yield securities–up to this point I have stuck to BDC baby bonds. On a historical basis I have shied away from anything that is residential mREIT related and I suppose over the years I have given up some potential income. Not certain I want their perpetual preferreds–but a DATE CERTAIN short maturity bond should work ok–we’ll see.
Of course I added this to my ‘laundry list’ of holdings.