Entries by Tim McPartland

Purchases and Sales in Model Portfolios

We had mentioned last week we would be making some purchases this week as well as executing a sale in the Blended Income Model Portfolio and we have done so yesterday. We have purchased full positions in 2 fixed-to-floating rate perpetual preferreds.  We have been, and continue to be, reluctant to purchase perpetual preferreds up […]

Global Indemnity LTD Floats a New Note Issue

Specialty insurer and reinsurer Global Indemnity LTD (NASDAQ:GBLI) has sold a new subordinated note issue with a long duration maturity. GBLI is a Cayman Islands based insurer that insures specialty risks such as medical and professional liability insurance, collectibles insurance and property and casualty insurance for small businesses.  While the company is not a large […]

Plans for the Days Ahead

So the Fed meeting is happening today and tomorrow morning and we are awaiting the announce on the 1/4% rate hike.  Then for the big news–what Chair Yellen has to say after the meeting–will she sound hawkish on rates or will she give the typical dovish sounding drivel that would be the norm? So here […]

Anxiously Awaiting the Last Nail in the Coffin

It has been a rather rough ride the last 5-6 market days as investors finally figured out that interest rates will be raised by 1/4% next Wednesday when the FOMC meeting ends.  The hike isn’t our big  concern it is what Chair Yellen will say after the rate hike is announced. On February 16th I […]

Another Fixed-to-Floating Preferred Sold by a Mortgage REIT

Two Harbors Investment Corp (NYSE:TWO) becomes the 3rd mREIT in as many weeks to sell a fixed to floating rate preferred issue.  Interestingly all 3 issues have very similar terms. TWO has sold 5,000,000 shares of 8.125% fixed-to-floating rate preferreds with the typical preferred stock terms. Shares are cumulative in respect to dividends,  redeemable at […]