Morning Commentary: Preferreds quiet after Fed remarks; Morgan Stanley preferreds move up

By Christine Van Dusen

Atlanta, July 16 – The preferred stock market was quiet on Wednesday morning after Federal Reserve chairwoman Janet Yellen’s Tuesday remarks had market-watchers wondering whether rates could rise sooner than expected.

“For the most part, things are really quiet and bonds are relatively flat,” a trader said.

In trading, Morgan Stanley’s floating-rate series A noncumulative preferred stock traded Wednesday morning at $20.85, up 19 cents on 33,378 shares traded.

Goldman Sachs Group Inc.’s floating-rate noncumulative preferred stock, series A, was spotted at $20.31, up 15 cents on 29,731 shares traded.

And Deutsche Bank Contingent Capital Trust III’s 7.6% trust preferred securities moved down 7 cents to $27.64 on 19,666 shares traded.

© 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.