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Why pay commissions for preferreds when bonds yield more
A retired investor questions if buying Pacific Gas 6 percent AA preferred at 6.9 while Pacific Telephone 7s AAA new issue yields 7.14 without commissions. The column explains bonds are safer but preferreds can rise with falling rates, as call features and market demand affect prices. It notes that listings reflect traded prices and that brokers differ, suggesting programs for small investors.
MENTIONED IN THIS ARTICLE
Pacific Gas
Pacific Telephone
NY Stock Exchange
Stock Exchange