Morning Commentary: Deutsche Bank preferreds improve; State Street opens trading lower

By James McCandless

San Antonio, Aug. 1 – Deutsche Bank Contingent Capital Trust V’s 8.05% trust preferred securities improved on Wednesday, becoming a top mover in early trading.

The preferreds (NYSE: DKT) were up 2 cents at $25.50 on volume of about 368,000 shares.

Meanwhile, State Street Corp.’s 5.35% series G fixed-to-floating rate non-cumulative preferred stock declined.

The preferreds (NYSE: STTPrG) were down 13 cents to $25.95 with about 185,000 shares trading.

State Street is a Boston-based financial services company.

The Wells Fargo Hybrid & Preferred Securities Financial index was down 0.22% in early trading after gaining 0.11% at market close on Tuesday.

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