It is amazing how fast these markets change–we go from ‘the world is going to end’ to ‘everything in the world is good’ in the blink of an eye.
With common stocks up 1% this morning the 10 year treasury is moving higher–just like it is supposed to work. The 10 year treasury is up 3-4 basis points to the 1.64% area. Energy markets are in sync as well with crude up $1.50/barrel.
The new preferred from giant mREIT AGNC Investment (AGNC) is trading now under the OTC Temporary ticker AINGZ and is around $24.99–it has thus far traded in about a 5 cent range. As Bob-in-DE points out whether to buy the new issue or go with one of the older outstanding issues is kind of a toss up. The YTC on the new issue is better, but the current yield is worse. Bob attached a little Google sheet to his comment which can be seen here.
Qniform is targeting some of the debt issues of junky–even bankrupt companies and you can follow some of his comments over on the Reader Initiated Alerts section. I had been looking at the Atlas Financial baby bonds last weekend and at $6.50 there is a decent risk/reward if these get paid off at $25.00–I bought a very small taste. I am not advocating others follow–this has little to do with income investing–more like going to Las Vegas.
Fabrib noted that NuStar Energy (NS) reported earnings today--they are pretty decent. Of course NS is a MLP so if you hate K-1’s this isn’t for you, but they have some high yield preferreds for those with a little appetite for risk–you can see them here.
We are still awaiting details on the new Oxford Lane term preferred issue–I suspect it will be out after market close today. The older issue OXLCO 7.50% term preferred issue is off 42 cents and trading at $25.24–folks are awaiting news on how much of this older issue will be redeemed with the proceeds of the new issue.
Since the party is continuing you would expect maybe $25/share preferreds and baby bonds would be up–in spite of higher interest rates–and you would be correct–the average share is up 4 cents this morning.