Athene Holding: Fixed-Rate Preferred Yields Rise Further (Rating Upgrade)

Impact · against what's priced in

The rise in yields for Athene Holding's preferred shares is a neutral event for APO. While the instruments are appealing for income investors, this is a function of market interest rate movements rather than a change in the underlying credit profile or fundamental value of APO.

APO+0.10

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In context

The 8.4% yield on Athene's Series B and D preferreds reduces call risk and negative convexity, making them attractive long-term income assets.

Read from the article alone

• APO
• duration
• fixed income
• income investing
• preferred shares
• treasury rates
• yields

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