HomeMost PopularBank of America's 6.4% Yielding Preferred Shares: A Bold Play on an...

Bank of America’s 6.4% Yielding Preferred Shares: A Bold Play on an Impending Rate Cut

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Government Bailout

Seeking Value in Unconventional Spaces

While I don’t typically gravitate towards non-cumulative preferred shares, every once in a while, an offering comes along that’s just too intriguing to ignore. In a previous piece, I delved into the β€œbusted” preferred shares issued by Wells Fargo (WFC), and now, let’s turn our attention to the Series L preferred shares from Bank of America Corporation (NYSE:BAC). Sporting a tantalizing 6.4% yield, these securities appear to be an interesting play on potential rate cuts in 2024. With Fed Chair Powell signaling a shift in policy may be on the horizon, betting on lower rates might just pay off handsomely.

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