"There is a tremendous demand for 'quality yield' and not a lot of it," writes Annaly, noting a...

"There is a tremendous demand for 'quality yield' and not a lot of it," writes Annaly, noting a "dramatic shrinkage" in preferred shares is on the way. One source of reduction will be banks calling in their Trust Preferred Securities (i, ii, iii, iv) as these no longer qualify as capital under new Basel rules. Is PFF, currently yielding 5.84%, about to become more dear?

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Comments (2)
  • MexCom
    , contributor
    Comments (3069) | Send Message
    Hey kid - ya'wana buy some JC Penny preferred (PFH). I'll sell it to ya cheap.
    13 Jul 2012, 07:08 AM Reply Like
  • bernie 1
    , contributor
    Comments (673) | Send Message
    At the beginning of the banking crisis I through my research & an interested bond person from my brokerage account was able to pick up bonds that I thought would outlive me. They ran from 6.10% to about 7.75% & paid monthly. Last month BAC called the only bond that I had paid above par. I got par & started the search,it was scary to find even under 6 % issues going for way above par. I mean GS at about 4% for 25 basis points over the 100 PULEEZE.
    I went to my standby Quantumonline for preferred,& it wasn't much better,if I remember NLY preferred was over $26 bucks. At least Bloomberg is open for information unlike CNBC who will informational you into madness,Do I really need that weight loss product,body parts extended,or more hair ?
    Financially,my Golden Years suck. When I started investing 30 years ago, it was such a fun hobby,now I'm up at 3 AM to catch the European opening to see what my U.S. positions are doing.
    13 Jul 2012, 08:49 AM Reply Like
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