watching for good entry.........div shows .406 but no matter, only for a trade.
For 1.5 months
2.2 percent for 1.5 months is about 15 to 20% range for a 6.5% yielder
was jammed down and now will slowly make a climb to get back to parity with other bank prefs
... 1 month later
MCC @ 9
MTGE @ 18.87
MCC (9 - 9.21) / 9.21 = -2.28%
MTGE (18.88 - (19.7 - 0.65)) / (19.7 - 0.65) = -0.89%
Oh I thought I'd throw a little class/quality into this discussion (sarcasm x10). I bought MHR-D at 19.80.. It is 50par.. The other two C & E are out of line with the val of this.. I doubt MHR-E shares could be borrowed reliably.. but you could go long MHR-D and short ~1.7x (the amount of MHR-D) MHR-E.
So in simple terms.. you could buy 200 MHR-D@ 19.85.. and short ~340 MHR-E @ 11.70-11.72. I think you'd pick up about $10 a month without 'fears' of a loss of principal due to 'credit event'.. I wouldn't do any of that though.. I don't think it'd be too easy to implement. But 'on paper'.. it does appear to be a mathematical freebie.
Yes, correct. I don't think that they anticipated QE or really wanted to take a position on that.. I know I wouldn't.. I would want something that would be a win/win situation. I wanted to buy spanish subprime for a while.. since 2012.. I did not, and still do not have the connections to do so. I say subprime, but what I really mean is NPLs on the cheap.. Provided that loan modification/foreclosure are remotely similar to North America..
In Italy.. and especially Greece. The only thing you'll get with your freshly purchased NPLs.. is a good laugh.. and maybe a proper beatdown for having the stones to actually ask for payment or threaten foreclosure..
Anyways.. They bought the Spanish npls.. a few CLOs.. various ABS that is distressed.. but not exactly trash/worthless.. On the other hand.. they are short some European Sovs.. so, unless that is Greece... Ouch.
It's funny though.. This closed at 20.22.. The absolute lows for the day.. while other, more mainstream, stocks.. ripped as if their entire business model was "short the euro".
I am so sick of this world wide inflation #$%$.. I've been saying that for a while.. This past week has gotten out of hand.. I lost count of how many CBs have done straight up stupid #$%$.. one after the other.. Everyone has a 2% inflation target.. Think about that.. EVERYONE.. Unless Martians land on earth and give us some currency perspective, fiat cur is more than kinda #$%$.
Alkkov, if I read the information correctly, this is a positive development for EFC. They bought depressed EU assets for cheap in anticipating for the QE bazooka. Now that the gun has fired, the values of these assets should increase since EU is saved once again. :) Am I right?
will chop up and down 10 to 30 cents then volume dries up and offers dry up and parity coming 1. to 1.50 higher
somebody wants to pin the top at 25.80,,,,,,,,,,,,,,,,,,,, been there since the open.
I don't like the bac-w if tlt starts to roll over due to higher duration
I want the chscl to 26.50 to 27.50
but hey 2.2% qukcly is nice
im buyng every penny down here and flipping a little but I see this for mid april juicer
Here is where the dash for trash certainly helps..
During the third quarter, we continued to expand our investing activities in European non-dollar denominated assets. We actively traded the portfolio, capturing net gains. Yield spreads on many European ABS tightened to pre-crisis levels during the third quarter, as the market was largely driven by anticipated European Central Bank, or "ECB," quantitative easing action, including the September announcement that the ECB plans to directly purchase ABS. While the majority of our European holdings have been in RMBS, we added investments in other asset classes during the third quarter. We purchased our first European CLO as an extension of our U.S. CLO strategy, and we purchased an interest in a pool of Spanish non-performing consumer loans. We expect to continue to add European CLOs to our portfolio in the coming months, and we expect to continue to pursue smaller portfolios of European ABS in Spain, given the lower level of competition for these assets. European banks remain under pressure to shed assets in order to strengthen their balance sheets, increase capital ratios, and divest non-core businesses. This could create buying opportunities for us, but this has also weighed on liquidity, especially in the sub-investment grade and mezzanine European ABS space, as banks and dealers are reluctant to hold inventories. As of September 30, 2014, our investments in European non-dollar denominated assets totaled $39.4 million, up from $33.6 million as of June 30, 2014. Our European holdings include securities denominated in British pounds as well as in euros.
surprisingly, EFC near unch..
sold 1/2 of chscl in all accounts at 25.78, great trade from 25.15....................................... replaced with bac-w.....
friggin Schwab accounts did not convert new symbol but Ameritrade did..................cant sell or buy............^%$#@#$ no excuse for this.
one day I fail to check new ipo's and thats what can happen. Its ok though, got in at .58 and .56