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There is no real discernable way to figure out what the stock and bond markets are going to do day to day--not to say there has ever been a way to do this successfully. Of course we really don't care about day to day movements, but we continue to have a few firmly held beliefs that will help us be…

Relatively small ($6.8 billion in assets) Pennsylvania banking company Customers Bancorp (ticker:CUBI) has sold a fixed to floating rate preferred issue.This issue has an initial (5 years) coupon of 7% before going to the floating rate in 2020. The floating rate is 3 month libor plus 5.30%.  Of course being a banking company the shares are non-cumulative.Given that we are…

Date Issued  5/13/2015Shares Issued  2,000,000  Overallotment Shares  300,000S&P Rating  NR   Moodys Rating   NRSecurity Ticker Symbol   CUBI-C    OTC Temp Ticker   CUBZPMarket Traded ON   NYSE      Dividend Payment Paid on the 15th of March, June, September and December beginning on 9/15/2015Quarterly Dividend   .4375   Annual Dividend   1.75Securities may be redeemed, at the issuers option, as early as 6/15/2020 for a…

There are 2 new preferred issues trading today---1 started trading on Friday and the other should be trading this morning.For those that receive our emails you are already aware of these new issues.Costamare (a large container ship owner) sold a 8.75% cumulative perpetual issue last week and it began trading on Friday and this morning is trading at around $24.79.…

Date Issued   5/5/2015Shares Offered   1,400,000        Overallotment Shares  210,000S&P Rating   NR   Moodys Rating   NRSecurity Ticker Symbol   GAINN    OTC Ticker  GLDTPMarket Traded ON   NASDAQDividend Payment Paid on the last day of the month beginning on 6/30/2015Monthly Dividend   .135   Annual Dividend   1.625Securities may be redeemed, at the issuers option, as early as 05/31/2018  the call price…