MetLife pushes upward; NuStar improves; Ally Financial preferreds gain

By James McCandless

San Antonio, Jan. 10 – As the week came to an end, the preferred market saw gains across the spectrum.

For the third day, MetLife, Inc.’s new 4.75% series F non-cumulative preferred stock pushed upward again.

Oil and gas name NuStar Energy LP’s 8.5% series A fixed-to-floating rate cumulative redeemable perpetual preferred units and its 7.625% fixed-to-floating rate subordinated notes due 2043 both improved.

Meanwhile, in the finance space, Ally Financial Inc.’s 8.125% series 2 fixed-to-floating rate trust preferred securities also gained.

Sector peer First Republic Bank’s 4.7% series J non-cumulative perpetual preferreds were active but unchanged.

Elsewhere, telecom name AT&T Inc.’s 5% series A perpetual preferred stock followed the market’s positive trend.

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