I will be adding a new link titled “Sandbox” in the right hand menu.
That link will get you to this page.
I had originally set up the “Reader Initiated Alert” page for ‘alerts’. I was thinking this, for instance, might be when a preferred stock is undergoing a temporary selloff and someone wants to let the population know about it quickly. Of course we all (including me) use the ‘alert’ page for general messaging.
I am requesting that we start using the Sandbox page for all general talk, and try to preserve the ‘alerts’ page for ‘alerts’.
I have had a screen up on one of my monitors all week where I see all comments – no matter where they are posted–it is a great page and I wish everyone had a page like that–believe me we all benefit from all the knowledge being shared. I don’t want to stifle any of the exchange of knowledge, but hope to get things a bit better organized by adding the Sandbox page.
Found the absolute best preferred buyers ever! They have the secret sauce and the golden keys to the market. On Tuesday 1/24, Sotherly Hotels filed with the SEC they were reinstating dividend payouts on their three preferreds. Some rockstar buyer(s) new to load up a few days before the announcement. All three issues gained ~3.00 to 3.50 per share after the announcement.
SOHOB 127,617 shares on 1/19, largest since 5/28/20, 90 day volume= 4,406
SOHOO 86,587 shares on 1/18, largest since 9/4/2019, 90 day volume= 3,464
SOHON 170,661 shares on 1/18-1/19, largest since ~ 2019, 90 day volume= 4,844
Lots of block trades >=1,000 shares, so it was not a gazillion small trades. The announcement was not part of a regular earnings release and/or conference call. It was seemingly an asynchronous event.
Maybe they will start posting here and spread some of that wisdom.
We were NOT involved in any of the trades in 2023, but I did post last fall on 11/11/22, that these were reasonable speculations with very high risk. We own small amounts in a few risk tolerant accounts.
Based on some discussions I saw earlier in the week I tried buying SLMNP on Fildelity. Got 15 at $846. I had owned some previously and sold before it went to Expert Market. Isn’t it odd that Fido is now trading it! I am happy to buy at that price for a fairly secure 7.1% and protection on the downside with the put to the Company. Has anyone actually tried the put? First time purchase on the Expert Market. Now if I could only buy KTBA!!
Just for the heck of it I tried to add another 5 shares to my holdings in Vanguard. The trade wasn’t permitted.
I didn’t even bother trying KTBA, but wouldn’t that be nice to buy it at current levels.
just for the heck of it…I added 2 shares to my position of SLMNP at Fidelity. Entered a buy at 847 and it immediately filled at 846. No go for buys at Schwab, and sadly no go at either firm for KTBA.
It makes zero sense how one can buy SLMNP on the expert at one broker but so many other expert market securities are not allowed at almost every broker. If Fidelity finds out about that they might very well block that one as well. Probably slipped through the cracks.
I might be worthwhile to test out every decent expert market ticker at Fidelity to see what is available. DMRRP perhaps? Last trade was 27 bucks!
@Fryman
I had no problem getting 4 more SLMNP at Fidelity
I see it had a volume of 72 total today.
Grateful to add below the put…
Hi Malka! hope you are well!! miss our chat group.. Bea
Blackrock increased its ownership in LXP to 19%.
I’d be concerned about a buyout and delisting for holders of LXP-C
LI – a quick look see of prospectus shows this – I did not look in depth
” Upon the occurrence of a fundamental change, as
described in this prospectus supplement, a
holder may require us to purchase for cash all
or part of its Series C Preferred Shares at a
price equal to 100% of their liquidation
preference plus accrued and unpaid dividends,
if any, up to, but not including, the
fundamental change purchase date.
I’d bail. These guys always find a way to screw debt.
Good morning my income loving brothers and sisters! Another day another opportunity to buy a tax free bond for my ladder portfolio:
Sierra PKS Levee Improvement District, Texas General Obligation CUSIP 82622PAU4 3% due 9/1/41 rated A1/AA AGMC Insured underlying A1 @$82.573 YTW 4.38%, YTC 7.995% YTS in 9/40 4.438% Duration 13.379 Convexity 2.25 Be careful as many of the Texas bond are now tiny specific numbered districts and not broader based areas that are safer GO’s.
Wall Street sells stocks and bonds, but what it really peddles is hope., I am Azure
AB infer from your comment some of the older bonds based on larger districts might be slightly safer if trading similar to this one?
But now that gives me an idea are there any levee district bonds in Calif ?
Market futures are all green today. Market sentiment is party on as evidenced by the remarks by readers on SA on editor post that initial GDP is expected to be 2.9% in 4th qtr. 1/4 point raise by the feds is already baked in.
Fed Funds Futures confirm…. below from Thurs FF open ##’s ….
Jly Contract …. 4.875% Funds indicated
Sep Contract …. 4.785% Funds indicated
Nov Contract …. 4.590% Funds indicated
Regarding GLOG Ltd’s proposed purchase of the units of GLOP partners, has anyone read or have a sense of what fate might await the GLOP preferreds? All 3 of the preferreds are down about 3% today after the announcement on 5 or 6 times normal volume.
asure
is there a site or publication that follows or specializes in new york munies that you can suggest? I to am in N.Y. and want to get more information on ny munies. tia sc
Back yet again to the tax free bond window. I bought Yonkers, NY General Obligation 3% due 2/15/39 CUSIP 986082K46 rated AA3/AA AGMC Insured underlying A3/A+ Stable @ $89.336 and was priced at issue $109.685 to yield 1.93% 😱 Convexity 1.819, duration 12.207, YTW 3.90% YTC 4.60%. This tax free bond fits my happy passive income ladder and my portfolio, please do your own deep due diligence as I am someone behind an iPad and may or may not have your best “interest” in mind.
To get rich, you have to be making money while you’re asleep.
I may need a nap, Azure
asure
is there a site or publication that follows or specializes in new york munies that you can suggest? I to am in N.Y. and want to get more information on ny munies. tia sc
sc, I really know of no specific site or publication that would specialize in NY state bonds. I always put my bond perimeters (taxable and tax free) in Vanguard and Merrill Edge and then do the research on the bond(s) that look like the best deal. Of course, there is an easy way to get just NY tax free bonds on both sites to come up. Best of luck, A
thank you for the thoughts. Is there a general site you use for munies> I want to upgrade my understanding but not doing very well. thanks sc
sc4, you mean for research, seeing all the trades or buying??
azure
for research or hints as what to look at. I will do the final research but I need some pointers . Thanks your consideration. SC
I’m not sure this posted before but if it helps, a quick google search brought up this site which seems like a thorough one – not educational but info on trades and issuers within NY https://newyork.municipalbonds.com/bonds/recent/
sc4, I’d be glad to help you any way I can. You need to decide initially on your parameters (time frame, coupon, rating, insurance, premium/discount, type, revenue source, AMT etc). I look at every bond on my Vanguard account and analyze if this debt instrument fits my personal needs and what will fill my income ladder. I always try to buy with a solid IG underlying rating even though the vast majority of my bonds have insurance. I would rather take a bit less for a more solid bond (like a GO from a great issuer) then a riskier bond that I have to think of in the future. These tax free bonds all go into my deep long term income stack and not for future trade under any circumstances; they are the foundation of my income portfolio. I also like to look at the bonds on FINRA Trace to see if I have missed anything and it’s trading history. Further, because I was primarily an Institutional Money Manager for 24+ years on Wall Street, I have an incredible group of people that still give me key information about municipalities and specific bonds I may want to look at. I am based in South Florida and we do not have any state income taxes so I can buy tax frees from anywhere. Reach out to me and I’d be glad to further assist you. I am azurebluenomad on Reddit. Hope this helps, A
Credit Suisse offering a 2 year unsecured note (callable after 12 months) at 7.1%. I would appreciate your thoughts/wisdom. The bank has been a lousy performer, but recently raised equity through a rights offering. CUSIP 22553QQ67
“More money has been lost reaching for yield than at the point of a gun.” – Raymond DeVoe Jr.
https://www.fitchratings.com/research/banks/credit-suisse-restructuring-involves-substantial-execution-risk-28-10-2022
Alpha, 2 months ago I ran bond searches on Fidelity and they kept coming up with bonds for Credit Suisse rated as A
With what had been in the news the past 6 months I didn’t feel it safe. Felt as if Wall St was trying to pass the doggie doo to unsuspecting investors wowed by the name.
This is just me, others may see it differently. The title of the article, substantial risk says it all.
How does the 10 Year US Treasury Rate of 3.469% compare to the rest of the planet 🌎? Anyone investing in Zambia at 30.18%?? I do trade the government debt and equities in a couple of these countries right now. How about you?
https://tradingeconomics.com/bonds
I am Azure
Do you know if there’s foreign tax withholding on USD denominated bonds issued by foreign countries?
Generally, no, though there are exceptions. I think Brazil and possibly Spain charges withholding tax on debt, but it is fairly rare on debt.
Equities have withholding tax in most places, but there are exceptions to that as well, such as Ireland for US persons because of the US/Irish treaty, and Bermuda.
I’m long Brazil USD bonds and don’t recall any withholding, although I don’t really look any more.
The coupon is not the only factor. Currency conversions affect returns. I did Mexico Treasury bills denominated in pesos. After I scored a 48% – 6 month gain I hung up my spikes. I don’t remember any withholding but I bought and sold through a bank in California.
There are a lot of websites that cover tax treaties / foreign tax withholding. Look before you leap.
Thanks for the replies. I bought some USD denominated Colombia bonds in a non-taxable account before thinking about whether there would be withholding. Waiting to find out. Did tons of research out there and there’s no info on whether there’s withholding for USD denominated bonds (there is for local currency bonds). The best I could come up with is the fact the USD EM bond ETF has no withholdings while the local currency EM bond ETF does. So, I concluded no withholding but I’ll have to wait and find out.
Argentina announced it would be buying its ST bonds. Moody’s claimed this a default. IMF apparently is Ok with it. I suppose good news for some.