The 5.4% non callable mentioned below is gone–I doubled back to get a little and they are sold out.
I don’t watch CNBC much–a little bit premarket, but other than that it is so much news I don’t need, but on occasion I miss news items that happen minute to minute.
The big banks are going to ‘bail out’ First Republic (FRC)?? Wow that is decent news I think–I haven’t looked at the details, but I hear the big banks (jpmMorgan etc) are looking to put $20 billion into FRC. On the surface big banks bailing out small banks sure seems preferred to the treasury stepping in–whether it makes a difference depends on the true strength of the big banks.
Regardless the preferred shares of FRC are flying. After opening flat in the $9/share area all the issues are trading up $3-5/share. In fact when I look at the bank and insurance preferred page it is extremely green. Looking at my accounts they are modestly green also–I never argue with green.
I note today that we have a new CD available from Stearns Bank (which is in Minnesota) offering 5.4% on a 1 year–non callable issue. Not many available on Fido and I am sure they will be gone quick.