The party in the various markets are continuing for now with the S&P500 up near 1% and the 10 year treasury yield off a few basis points at 4.57%.
Our portfolios are showing some decent gains on the day considering the large allocation to CDs and money market funds.
Personally I feel a need to see get a ‘feel’ for what the new administration is bringing to the party. It is so difficult for all of us to get around the ‘no politics’ comments right now–so I will just say that I need to see some info on tariffs etc before I can even consider buying into any perpetual issues—these markets are very susceptible to either a melt up–or melt down right now. So many unknowns.
So of course, very boringly, I am sticking to short duration issues. Of course this is a sector with limited offerings. Either term preferreds or baby bonds with maturities of 5 years or less. While it is boring playing the waiting game I would rather miss a few percent of gains than pile into perpetuals and have politics do a ‘rug pull’ on me.
Or you can swing trade Tim 🙂
BIPI – Is Perpetual sub Note , Indicated as having maturity in 2027 in Baby bonds list
Thanks NIKOLAS–got the date changed around on it.
apologies for nitpicking but It looks like BIPI becomes callable in 2027, but as a perpetual, it doesn’t seem to have a maturity.