Deutsche Bank mixed; Annaly Capital preferreds better; Qwest $25-par notes edge lower

By James McCandless

San Antonio, July 23 – The preferred space spent much of Tuesday trading in mixed directions.

Leading trading volume, 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 were mixed.

The 8.05% preferreds (NYSE: DKT) were down 21 cents to close at $25.08 on volume of about 537,000 shares.

The 6.55% preferreds (NYSE: DXB) were up 4 cents to close at $24.23 on volume of about 407,000 shares.

Sector peer Voya Financial, Inc.’s 5.35% series B fixed-rate reset non-cumulative preferred stock improved.

The preferreds (NYSE: VOYAPrB) added 17 cents to close at $25.73 with about 372,000 shares trading.

Synovus Financial Corp.’s 5.875% series E fixed-rate reset non-cumulative perpetual preferreds saw a negative swing.

The preferreds (NYSE: SNVPrE) declined by 3 cents to close at $25.85 on volume of about 299,000 shares.

REIT Annaly Capital Management, Inc.’s 6.75% series I fixed-to-floating rate cumulative redeemable perpetual preferred stock gained.

The preferreds (NYSE: NLYPrI) improved by 3 cents to $25.52 with about 211,000 shares trading.

Elsewhere, in communications, Qwest Corp.’s 6.5% notes due 2056 dipped.

The notes (NYSE: CTBB) fell 3 cents to close at $24.11 on volume of about 179,000 notes.

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