Well Monday was another record setting day for the S&P500–up a solid 19 points–around .4%.
The 10 year treasury traded in a narrow range Monday–1.285% to 1.31% closing at the low for the day at 1.285%. Seems to me investors of all sorts lean to the interpretation that Fed Chair Powell remains firmly a dove (is there really any doubt?).
Monday the new 5.25% preferred stock of banker ConnectOne Bancorp (CNOB) began trading on the NASDAQ under ticker CNOBP after trading on the OTC grey market. This 5.25% issue closed Monday at $26.25
At this time we have a few ‘pending’ new issues. We await pricing on the new Eagle Point Credit Company (EIC) term preferred. We await trading on the new 8.50% baby bond issue from Charah Solutions (CHRA). We also have a new term preferred issue from Priority Income Fund ‘teed up’–but it could be weeks before we see pricing on that issue.
I have added a new ‘topic’ in the side menu–titled — OTC trading and rule 15c2-11. randy asked for a page for this topic a few days ago and it seems there is interest so I have added the page.