Morning Commentary: Preferreds gain in early trades amid limited liquidity; bank earnings eyed

By Stephanie N. Rotondo

Phoenix, July 8 – The preferred stock market was firming up in early Tuesday trading.

The Wells Fargo Hybrid and Preferred Securities index was up 11 basis points at mid-morning.

Still, overall activity remained on the subdued side as investors geared up for upcoming bank earnings.

One trader noted that corporate quarterly earnings were also slated to start soon and that those figures would give an indication of how the economy was faring.

“Interest rates will have to go up sometime,” he said.

Earnings season could then lead to more volatility in the market.

Though the new issue pipeline is expected to spit out a couple deals ahead of Friday – the beginning of bank earnings, to be kicked off by Wells Fargo & Co. – no new deals had been seen as of early Tuesday.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.