Well there are certainly plenty of ‘nervous nellies’ out there as pricing on preferred stock and baby bonds got hammered once again. There were over 50 issues off by 2% or more today–yikes.
To look at the good side of things there are some solid issues being sold down–maybe being sold down below where they will be in a month. Prices are moving on anticipated rate increases and I think it is likely that some may move higher as the sell off becomes exaggerated.
This link gives you a alpha list of preferred stocks which you can toggle to sort by ‘losers’–a long list today. Issues I mentioned over the weekend moved further into my target zone and it is very likely I will take a small nibble this week of a number of issues.