HTIA - Preferreds Market Weekly Review: Rising Yields Deliver A Positive Side-Effect

• We take a look at the action in preferreds and baby bonds through the first full week of October and highlight some of the key themes we are watching.
• So far, October is shaping up to be another down month in the exchange-traded preferreds sector as the continued rise in Treasury yields is taking its toll.
• One advantage of this rise in yields is that higher-quality preferreds have started to look much more attractive than they have been over the previous few months.
• We also highlight new issuance from Gabelli Dividend & Income Trust, Healthcare Trust and Arbor Realty.

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