Does anyone understand why LLPC has taken a dive in the past few days ? Particularly in the light of today’s interest rate cut, this looks odd. I can’t find any new concerns re Lloyds attempting to cancel the prefs at par, and surely the divi is safe. Odd. Now yielding 6.4% in a near zero interest rate environment.
Prefs are down across the board - £AV.A or £ELLA for instance have seen an equivalent selloff. The obvious reason is that investors have become more risk adverse - perhaps a folk memory of the concerns around financial prefs during the GFC?
But, yes, it looks overdone, especially with interest rates being cut.timarr
