Southern California Edison moves up; Deutsche Bank negative again; Allstate weaker

By James McCandless

San Antonio, July 9 – Winding down the Tuesday session, the preferred market ended another day mixed.

Leading volume, Southern California Edison, a subsidiary of Edison International, saw its 5.375% fixed-to-floating rate cumulative trust preference securities moved up.

Meanwhile, in finance, Deutsche Bank Contingent Capital Trust V’s 8.05% trust preferred securities and Deutsche Bank Contingent Capital Trust II’s 6.55% trust preferred securities continued to tumble.

Sector peer Synovus Financial Corp.’s 5.875% series E fixed rate resent non-cumulative perpetual preferreds trended negative.

Elsewhere, insurance name Allstate Corp.’s 6.625% series E fixed rate non-cumulative perpetual preferred stock fell.

Retirement company Athene Holding Ltd.’s 6.35% series A fixed-to-floating rate perpetual non-cumulative preference shares were on the rise.

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