Preferreds/Bond Weekly Review: Couple Of New Issues
Portfolio Pulse from
The first week of March saw a decline in most preferreds sectors due to rising Treasury yields and wider spreads, indicating weaker risk sentiment and lower equity prices. PennyMac Mortgage Investment Trust issued a new 9% 2030 bond, trading at an 8.35% yield, which offers a stable book value profile.
March 16, 2025 | 8:45 am
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PennyMac Mortgage Investment Trust issued a new 9% 2030 bond, trading at an 8.35% yield, which could attract investors seeking stable returns amid declining preferreds sectors.
The issuance of a new bond by PennyMac Mortgage Investment Trust at a competitive yield provides an attractive option for investors, especially as most preferreds sectors are declining. This could lead to increased interest in PMT's offerings, potentially boosting its stock price.
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