Goldman Sachs preferreds lower; Energy Transfer off; AT&T’s $25-par notes improve

By James McCandless

San Antonio, Jan. 3 – Preferreds saw a mixed day of trading on Thursday amid a backdrop of bleeding equity markets.

Leading trading volume was Goldman Sachs Group, Inc.’s 5.5% series J fixed-to-floating rate perpetual non-cumulative preferreds and its series D floating-rate non-cumulative preferreds, which both declined.

The series J preferreds (NYSE: GSPrJ) were down 29 cents to close at $24.26 on volume of about 555,000 shares.

The series D preferreds (NYSE: GSPrD) were down 33 cents to close at $17.79 on volume of about 375,000 shares.

Elsewhere in finance, Bank of America Corp.’s 5.875% series HH non-cumulative preferreds were higher.

The preferreds (NYSE: BACPrK) rose 4 cents to close at $24.79 with about 362,000 shares trading.

In energy, Energy Transfer Partners LP’s 7.625% series D fixed-to-floating rate cumulative redeemable perpetual preferred units declined.

The preferreds (NYSE: ETPPrD) fell 17 cents to close at $22.83 with about 301,000 shares trading.

Telecom giant AT&T Inc.’s 5.35% global notes due 2066 were better.

The notes (NYSE: TBB) were up 13 cents to close at $22.78 on volume of about 270,000 notes.

The moves came amid weakness in the broader equity markets. The Dow Jones industrial average fell 660 points to close at 22,686. And the S&P 500 fell 62 points to end at 2,447.

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