PFF: Rate Pressure, Not Credit Stress, Drives The Selloff

Impact · against what's priced in

PFF remains a hold as the selloff is driven by macroeconomic rate pressure rather than idiosyncratic credit deterioration. The 5.65% yield is insufficient to attract rotation in a rising yield environment, offering no immediate catalyst for price recovery.

PFF−0.30

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In context

While credit fundamentals remain solid, the 5.65% yield is under pressure from rising bond yields and a bearish technical trend, suggesting a lack of near-term support.

Read from the article alone

• rates▲26%
• fed▲19%
• etf
• dividends
• PFF
• bond yields
• financials
• preferred securities