2024-04-28 23:22:16 ET
Summary
- We take a look at the action in preferreds and baby bonds through the third week of April and highlight some of the key themes we are watching.
- All preferreds sectors are lower through the month, with utilities and energy sectors performing relatively better.
- The yield of mortgage REIT preferred CIM.PR.B recently changed due to a new coupon, making it challenging to evaluate the preferred until the first floating-rate coupon is paid.
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 third week of April....
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For further details see:
Preferreds Weekly Review: A Step Change In Yields Can Be Hard To Track