Morning Commentary: U.S. Bancorp preferreds edge higher; Deutsche Bank improves

By James McCandless

San Antonio, Aug. 17 – U.S. Bancorp’s new $575 million of 5.5% series K non-cumulative perpetual preferred stock edged slightly higher as the market neared the week’s end.

The preferreds (NYSE: USBPrP) were up 1 cent to $25.16 on volume of about 123,000 shares.

Meanwhile, Deutsche Bank Contingent Capital Trust V’s 8.05% trust preferred securities improved in Friday trading.

The preferreds (NYSE: DKT) were up 2 cents to $25.62 with about 92,000 shares trading.

The Wells Fargo Hybrid & Preferred Securities Financial index was down 0.01% in early trading after gaining 0.12% at the market close on Thursday.

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