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I bot MBINM at 25.19(24.93 stripped) ftf 10/1/2027 5yr +4.34 ytc 8.89 ytc using stripped price and it trades at parity (quantwolf calculator) …the MBINM/SJNK pair is trading near 2 sigma cheap on 1year horizon
With all the talk on the US credit rating people may have missed this.
https://www.fitchratings.com/research/corporate-finance/fitch-places-edison-int-l-so-california-edison-on-rating-watch-negative-16-05-2025
BUSEV is now trading as BUSEL If you have a bid in you might want to change it.
MFA-C sure seems like a bargain today. I already have a full position, so I haven’t been buying, but it’s been trading at about $24.30 this morning. It switched to floating in March, and is going ex-div in early June as a floater. It’s got about $0.50 accrued ($23.80 stripped), and will be paying a 9.9% coupon (TSFR3M+5.35%+0.26%) for the first time at the end of June, making it a 10.4% EY. Unless you think they are going bankrupt (please tell me if they are!) this feels underpriced. I think it’s cheap because the markets still aren’t fully pricing in the new floating rate.