Group 1 - The continuous narrowing of the STRD credit spread is a noteworthy market signal amidst increased volatility in digital assets [1] - Despite short-term pressure on Bitcoin prices, funds are flowing towards high-yield instruments with structural safeguards, indicating a subtle shift in investor risk appetite [1] - The STRD spread relative to the US 10-year Treasury reached a temporary low, suggesting increased demand for the preferred stock and improved perception of the issuer's credit quality [1] Group 2 - STRD maintains a premium of approximately 320 basis points over STRF, attributed more to capital structure hierarchy than short-term solvency differences [2] - Recent ATM issuance data shows STRD dominating, with weekly fundraising reaching a new high, reflecting a concentration of market funds towards higher-yielding subordinated preferred stocks [2] - The changes in STRD spreads and issuance rhythm may serve as important indicators for observing market sentiment and capital flows [2]
EasyMarkets易信:STRD利差收窄引关注
Xin Lang Cai Jing·2025-12-16 11:44