2024-02-25 21:11:51 ET
Summary
- We take a look at the action in preferreds and baby bonds through the third week of February and highlight some of the key themes we are watching.
- Preferreds fell this week due to the rise in Treasury yields, causing a headwind for the sector.
- Agency mortgage REITs have posted strong Q4 numbers, with rising book values and improved equity/preferred coverage.
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 the 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 February....
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For further details see:
Preferreds Weekly Review: Agency mREIT Results Turn Up