EICA - Preferreds Weekly Review: New Issuance Is Cheap To Existing
2024-04-07 02:24:25 ET
Summary
- We take a look at the action in preferreds and baby bonds through the last week of March and highlight some of the key themes we are watching.
- Preferreds underperformed this week, primarily due to REITs, but the broader space still had a positive total return over March.
- New issuance tends to come in at higher yields to existing, providing an attractive opportunity for investors.
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 March....
Preferreds Weekly Review: New Issuance Is Cheap To Existing