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USD prefs

air04
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USD prefs

#4980

Postby air04 » November 14th, 2016, 8:16 pm

The USD prefs of banks seem to be going down, but the bank stocks seem to be going up.

It may be due to expectation of interest rate hikes... but I feel that the fall is more than it should be..

DYOR

Code: Select all

Symbol   Coupon   Accrued ClnPrice LastTradePrice
RBS PRL   5.750%   0.248   24.46   24.71
RBS PRH   7.250%   0.313   25.02   25.33
RBS PRF   8.500%   0.367   25.46   25.83
            
RBS PRS   6.600%   0.285   24.78   25.06
            
NW PRC   8.622%   0.390   25.32   25.71
            
BCS PRA   7.100%   0.384   24.99   25.37
BCS PRD   8.125%   0.440   25.14   25.58
            
SAN PRB   4.000%   0.000   23.20   23.2
SAN PRA   6.800%   0.056   25.28   25.34
SAN PRC   6.500%   0.142   24.51   24.65
            
ISG      6.125%   0.193   24.76   24.95
ISP      6.200%   0.195   24.68   24.88
ISF      6.380%   0.345   24.61   24.96
INZ      7.200%   0.390   25.17   25.56
            
AEH      6.38%   0.345   24.61   24.95
AED      6.50%   0.352   24.91   25.26
AEB      4%   0.216   22.54   22.76
            
DXB      6.55%   0.395   22.38   22.77
DTK      7.60%   0.463   23.44   23.9
DKT      8.05%   0.265   24.08   24.34



Stocks like RBS PRH/INZ/BCS PRA/BCS PRD/NWPRC seem excellent value.. Most are going ex-div soon.

Please correct me if you find something wrong.

Good luck

Wizard
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Re: USD prefs

#5032

Postby Wizard » November 14th, 2016, 9:57 pm

I used to run my RBSG (before call) unhedged, but with the pound where it is now I think I would want some cover for a recovery in Sterling. Would the hedging costs eat up much of the yield on those prefs?

Terry.

hind
Posts: 1
Joined: November 15th, 2016, 11:22 am

Re: USD prefs

#5177

Postby hind » November 15th, 2016, 11:27 am

If you use FX futures then cost is difference between the libors and dealing charges, spreads every 3 months


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