The S&P500 traded in a range of 2962 to 3008 before closing the week at 2986.
The 10 year treasury moved in a range last week of 1.69% to 1.77% before closing the week at about 1.75%–all in all a pretty quiet range for interest rates.
The economic calendar is pretty quiet this week, but with all the political turmoil there will always be a chance for fireworks.
The Fed balance sheet grew by $16 billion last week–this brings the balance sheet to a point $201 billion above 8/28/19 which was the lowest point in 6 years.
Last week we had a couple new income issues sold.
Aegon Funding LLC (division of insurer Aegon NV (AEG) sold a new baby bond issue with the meager coupon of 5.10%. This issue is investment grade as you might imagine given the coupon I am not showing any exchange trading in this issue at this time.
Ellington Financial (EFC) sold a new perpetual preferred issue last week with fixed-to-floating rate coupon. The initial coupon is 6.75% which will be fixed until 2024. This issue is trading on the OTC Grey market under ticker EGLLP in the $25.20 area righ now.