E Pearl Harbor Day

Once again, because of access issues, I am not going to do another table update. While Barron's has added listed preferreds to its printed tables, the closed-end fund sector is basically unavailable week after week. I cannot imagine that this is in the interests of the Murdochs who own the magazine, but they have been in the news business for some 4 generations so they may know more than me.

With new corona-virus lockdowns, the price of oil has fallen. With a Brexit deal increasingly unlikely, the pound sterling has dropped which boosted UK large-cap shares that earn foreign currency.

Another 8 Hong Kong demonstrators have been arrested today and one who fled to Britain has seen his bank account sequestered. Meanwhile, the People's Republic has suffered a 2nd disaster at Chongqing with at least 18 miners dead. Communism turns out to be great for the leaders but not for the people.

Business newspaper article

image source

Banksters

*Today we got called out on a high-yielding pref at par. Banco Santander SAN is redeeming its 05971K406 preferreds at $25 (par). Nobody warned me at my brokerage, TD Ameritrade-Schwab, nor at any publication, I pay to get. It rose 0.45% last week to hit the par level. Customers are not being served at discount brokerages.

*Today banks are out of favor, with both our Japanese outfits SMFG and MSBHF down, along with BNS, BLX, SAN common, et, etc. Scotiabank was tipped by Zacks but it did no good.

*However gold and TIPs are up, plus gold miners like Kirkland Lake, KL is up 4.7%.

Drugs

*Exelixis EXEL, a US share, gained 4.41% today after it applied to the FDA for the solid cancer drug CDk7 inhibitor bought last week from the Aurigene sub of Beigene, for upfront sums and royalties payable to Zymeworks. Canada's ZYME develops bispecific HER-2 antibodies, tipped by Martin Ferera. It is recovering from insider sales by a backer which is cashing out. ZYME is rated buy by WainwrightCitigroup, Stifel Nicolaus, and Wells Fargo.

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