The average $25/shares baby bond and preferred stock is closing in on $26–actually up a dime on the week to $25.88.
The average share has not been this high since 2/21/2020–almost 14 months ago. Shares had peaked in early February, 2020 in the $26.08 area and we have had a hell of a ride since that time.
It seems like there continues to be ‘desperation’ for yield as we see all the laggards sectors – i.e. shippers, mREITs etc powering ahead.
The 10 year treasury has backed off to 1.66% as it would seem that ‘inflation expectations’ have been tempered for now–what will set off a new round of expectations and interest rate increases?
I guess I’ll be just like the Fed–don’t try to anticipate inflation–just wait until I can clearly see it. Maybe we are entering a ‘goldilocks’ phase for the next 3-6 months relative to interest rates. Well I am no predictor of rates so I guess I can just watch and remain mostly invested.