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Let’s Do This 1 More Time

1 more day–it will be great to get to the weekend. The mental flip flops all week long are pretty draining for me–I suspect for everyone.

It looks like we will see a stronger opening on the equity markets today–but as we all know that doesn’t mean we will finish positive–BUT it feels like a potential change in situation today–for now.

Maybe we (as a country) are going to come to grips (acceptance) that we are going to have a soft economy because of the Covid 19 virus. With all kinds of large events, schools and business shutting down for at least a couple weeks–maybe a month, but in the end–in the near future we will be fine.

Anyway today I have 2 issues on my shopping list. 1st is the CMS Energy baby bonds (CMSC)–5.875% with call protection until 10/2023. Last traded at $23.47. 2ndly the Spire 5.90% perpetual preferred (SR-A) trading at $24.25.

This continues the theme of high quality purchases.

Now if I am correct that markets move to another stage–less craziness–with swings of only +/- 1 or 2% I will move to another stage of adding some higher coupon, junkier issues–which I have only partially identified. I am looking at some REIT preferreds–maybe in the mREIT area–but UNDER NO CIRCUMSTANCES will I be buying lodging preferreds. The lodging REITs preferreds might work for a trader who is nimble, but I am looking for stuff to hold longer term.

So hold on–I see the equity futures are on a halt (an upside halt) so with good fortune today will a calmer day–at least one which may not be such a loser.

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