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By Joe URCIUOLI, Executive Director, Head of Research – Spectrum Asset Management*
The pandemic has significantly impacted global society. While Covid-19 has had a severe human and economic toll, the global economy demonstrated its ability to rebound from this devastating historical moment. For investors, preferred and capital securities (“preferreds”) have demonstrated to be resilient, given stable credit fundamentals and total return characteristics.
Macroeconomic and financial outlooks benefit from a favourable economic backdrop, though some lingering health worries present risk. Global economies have substantially recovered this year, continuing the trend that began in the second half of 2020. Many countries, like the United States, are...
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