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Top related persons:
Michael Youngworth - 2 Youngworth - 2 He's - 1 — CNBC'S Michael Bloom - 1 Leslie Falconio - 1 Falconio - 1 Bonds - 1 JR Humphreys - 1
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ICE - 2 Securities - 2 Bank of America - 1 preferreds Bank of America - 1 Treasury - 1 Federal Reserve - 1 UBS - 1 BofA Securities - 1

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2 mentions found


☆ Amid a rocky market in preferred securities, Bank of America finds opportunity
  + stars: | 2023-10-16 | by ( Michelle Fox | ) www.cnbc.com   time to read: +1 min
It hasn't been a great time for preferred securities. Yet Bank of America sees opportunity in some areas of the market. The ICE BofA Core Plus Fixed Rate Preferred Securities index, which has an effective yield of 6.71%, has seen a total return of -7% in the last six months. "Having said that, we think that certain names and pockets of the market may offer relative value," Youngworth said. Here are some of the $25 par fixed-rate preferreds Bank of America recommends, which have at least two years of call protection.
Persons: Michael Youngworth, He's, Youngworth, — CNBC'S Michael Bloom Organizations: Bank of America, ICE, Securities, preferreds Bank of America
☆ Preferred securities are yielding nearly 7%. After a turbulent first half, here's why it may be time to jump in
  + stars: | 2023-07-06 | by ( Michelle Fox | ) www.cnbc.com   time to read: +5 min
After a rocky first half of the year, it may be a good time to buy preferred securities. The ICE BofA Fixed Rate Preferred Securities index, which tracks the performance of fixed-rate preferred securities, has a yield-to-worst of 6.7%. While many preferreds have fixed rates, some have floating rates or fixed-to-floating rates that switch from fixed to floating after a certain period of time. In 2022, the ICE BofA Fixed Rate Preferred Securities index lost 19%. Its top-rated funds include Global X US Preferred ETF and iShares Preferred & Income Securities ETF.
Persons: Leslie Falconio, Michael Youngworth, Youngworth, Falconio, Bonds, JR Humphreys, Humphreys, Humphrey, America's Youngworth, CNBC's Michael Bloom Organizations: Treasury, Federal Reserve, UBS, BofA Securities, Securities, Brock Investment Advisors, ICE, JPMorgan, American Equity Investment, Western Alliance, Bank, America's, preferreds . Bank of America, Global, US, iShares, Income Securities Locations: preferreds, preferreds .
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