ECCU - Preferreds Weekly Review: Agency mREITs Deliver Good Results
2025-02-09 11:00:35 ET
Summary
- We take a look at the action in preferreds and baby bonds through the last week of January and highlight some of the key themes we are watching.
- Preferred stocks saw mixed performance with Energy and Utilities sectors gaining; January's gain nearly offset December's losses.
- Agency mortgage REITs like AGNC and Annaly reported earnings that are broadly positive for preferreds shareholders.
- ECC's new bond issuance has increased leverage, making OXLCI more attractive; high-reset yield preferreds like ANG.PR.A demonstrate resilience in volatile periods.
Welcome to another installment of our Preferreds Market Weekly Review, where we discuss preferred stock and baby bond market activity from both the bottom-up, highlighting individual news and events, as well as top-down, providing an overview of the broader market. We also try to add some historical context as well as relevant themes that look to be driving markets or that investors ought to be mindful of. This update covers the period through the last week of January....
Preferreds Weekly Review: Agency mREITs Deliver Good Results