LBRDK - Preferreds Market Weekly Review: A Path Forward For Libor Fix/Float Securities

• We take a look at the action in preferreds and baby bonds through the fourth week of March and highlight some of the key themes we are watching.
• Preferreds had another down week as Treasury yields continue to climb.
• We highlight the new path forward for Libor Fix/Float securities with the passage of the omnibus bill.
• At this point, we like higher-quality and consumer-backed securities such as hybrid mortgage REIT preferreds.

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