Equity futures are quiet as we await the most recent economic news. We have the second look at 4th quarter GDP and initial jobless claims at 7:30 a.m. (central)–then at 9 a.m. we have pending home sales and consumer sentiment. News that previously was kind of unimportant is now parsed 16 different ways. Yesterday equities went parabolic the last 40 minutes of the day–the conspiracy folks out there immediately suggested a leak of today’s data–well we will see what the numbers turn out to be in about 90 minutes.
The 10 year treasury is now at 4.22%–pretty quiet and still in the range (4.15% to 4.35%) where it has been for the last 2 weeks. We could see this range broken tomorrow, when equity markets are closed, when the personal consumption expenditures (PCE) are released.
Tomorrow equity markets are closed for Good Friday so we can all enjoy a 3 day weekend, although treasury markets are open until 1 p.m. (central) so we could see some interest rate movements.
Finally last night we got pricing on the new Eagle Point Income (EIC) term preferred stock issue. The issue priced at 8% for 1.22 million shares plus 183,000 over allotment shares. The press release is here. I already own the 7.75% term preferred (EICB) issue which is trading at $25.10 – we will see if it is worth the trouble of swapping issue for issue.
In the news today that there are signs unemployment will be up in the coming months. Required government WARN notices are up. The article expects higher unemployment to start showing up around May.
Tim.. last years,, Bargains,,, are bearing. profits… 50-60% are above purchase Price.. plus + interest .Georges.. Ty..