As you might have noticed there is nothing posting to the home page of the website. Since Tuesday afternoon I am able to post items and folks that are on the various feeds get the notification of publication and can find the article page–but this represents just a minor portion of the site traffic.
I have the tech folks working on the issue and hopefully they are able to get it repaired today.
My apologies for the site issues -in 17 years we have had only a couple issues with more than a few hours offline–hopefully we will note see these glitches often.
Well we will almost undoubtibly have a wild week ahead in stock and bond markets–whether it is up OR down is the question–or maybe it will be both.
Last week the S&P500 ended the week with just under a 1% gain for the week after a wild ride with the week opening down 1% after being as low as down about 2%–a wild ride, but all things considered not a horrific week.
The 10 year treasury traded in a fairly wide range of 1.86% to 2.01% trading down to 1.86% on Thursday before blasting higher to 2.01% (closing at 1.98%) on Friday as equity markets shot higher and inflation numbers continued hot. Investors are now convinced the Fed will move forward with base rate increases in March after they momentarily started to believe that the Ukraine situation would put a ‘hold’ on increases.
The Fed balance sheet grew by $17 billion last week as it pushes ever closer to a cool $9 trillion.
Last week $25/share preferreds and baby bonds ended the week relatively flat–although through the course of the week shares moved around quite a bit.
The average share moved lower by 4 cents. Investment grades issues moved lower by 2 cents, bank preferreds were off 1 penny, mREIT issues fell by 8 cents–very close to a flat week.
Last week we had 1 new income issue as Priority Income Fund finally priced their new term preferred.
The issue priced with a coupon of 6.375% and is trading under OTC ticker PRIFP and closed on Friday at $24.59.
My apologies for the website being down for 30-40 minutes earlier this morning. Thus far I am not certain of the issue beyond something with the server puking.
