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Stock impact report

Preferreds Weekly Review: Tight Spreads Drive New Baby Bond Issuance [Seeking Alpha]

Great Elm Group, Inc. (GEG) 
Company Research Source: Seeking Alpha
Preferreds outperformed other fixed-income sectors this week, with credit spreads at their tightest since February and yields moving lower. Chimera (CIM) issued an 8.875% 2030 baby bond and is increasing its Agency portfolio and MSR allocation after acquiring HomeXpress. Great Elm (GECC) will issue a 7.75% 2030 bond to redeem higher-cost debt, leveraging lower yields despite ongoing credit challenges. NYMT rebranded to ADAM; its preferreds and bonds remain attractive in the current market environment. Tom Merton/OJO Images via Getty Images 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 More on my IG service Check out Systematic Income and explore our Income Portfolios , engineered with both yield and risk management considerations. Use our powerful Interactive Investor Too Show less Read more
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