Guest Post: Rates Go Higher, Preferreds Pullback, Opportunities Arise

Summary

• Higher rates have caused a decline in the preferreds market creating some opportunities.

• In a rising rate environment, focus on issues with limited duration, high coupons and ones that are pinned to par.

• We review PRIF-E, RILYM, RCA, SCCC, CMO-E, CIM-A, NYMTO, ATCO-D, SESCF, GSLD, BSA, UMH-C, DX-B, and EBGEF.

• RILYM and SESCF go ex-div 1/14.

Guest pos…