Hudson City Pays Off Debt Early

Our Buy List is doing well so far this morning. While the S&P 500 is up 0.20%, our Buy List is up 0.49%. Stocks like Moog ($MOG-A), Jos A Bank ($JOSB) and Deluxe ($DLX) are particularly strong. I also see that Nicholas Financial ($NICK) is now trading above $12 per share.

I would think the departure of the world’s most gruesome person would be a positive for the market. I think it’s interesting that three main points of the yield curve are now separated by 1%; the five-year yields 0.81%, the ten-year is at 1.85% and the 30-year yields 2.84%. I really doubt if those low yields will hang around much longer.

On Friday, one of our new stocks for 2012, Hudson City Bancorp($HCBK), jumped 3.8%. I’d like to think this was on the news that it’s joining my Buy List. Alas, the news that the bank is paying off $4.3 billion in structured debt before it’s due probably played a much larger role in the rally.

Unfortunately for me (but not for you), since the 2012 Buy List doesn’t go into effect for another two weeks, none of the positive move in HCBK will go towards helping my tracking record.

Posted by on December 19th, 2011 at 10:14 am


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