We are staring into a potentially exciting week with spiking oil prices, because of the Saudi attacks and because of the 1/4% Fed Funds rate cut we will most likely see on Wednesday.
Last week the S&P 500 traded in a range of 2969 to 3020, within a hair of a new high.
The 10 year treasury traded in a wide range of 1.50% to 1.90% before closing the week at the high at 1.90%.
The average $25/share baby bond and preferred stock closed the week at $25.22 which is a full 20 cent drop from the previous week.
We have 146 issues trading under $25/share now compared to 130 issues the week before.
The Fed Balance Sheet grew by $8 billion last week which seems to point to a leveling out of the balance sheet asset total–we will need about 4 more weeks to confirm that the Fed is neutral in this particular aspect of Fed policy.
Last week we saw a number of new income issues announced.
South Jersey Industries (NYSE:SJI) announced a new baby bond with a coupon of 5.625%.
Saul Centers (NYSE:BFS) announced a new fixed rate preferred with a coupon of 6%.
Bank of America (NYSE:BAC) announced a new 5% non cumulative preferred.
mREIT AG Mortgage Investment (NYSE:MITT) announced a new issue with a a fixed-to-floating rate coupon. The initial rate is 8%.
Fifth Third Bank (NASDAQ:FITB) announced a new preferred with a 4.95% fixed rate coupon.
Lastly Rexford Industrial Realty (NYSE:REXR) announced a new fixed rate 5.625% preferred.
More data on all these issues can be bound by skimming down homepage where all data is announced and kept.