Since the Fed started raising the federal funds rate in December, the U.S. preferred stock market has been offering today’s buyers the best prices (and therefore yields) that we have seen since last spring. There are currently 114 high quality preferred stocks selling for an average price of $24.77 (January 31), offering an average yield-to-call of 5.70 percent. And 57 of these high quality issues are selling below their $25 par value...
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