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CHS, the giant Minnesota agricultural cooperative, has announced the registration of 8,000,000 Class B, Series 1 shares.  This is NOT a new issue, but now trades as ticker CHSCO with a 7.875% coupon.   CHSCO may trade down somewhat in the next couple of days as news of the share issuance becomes more widespread (currently the shares are off 36…

July 9, 2014  11 amOverall the markets are quite quiet today after yesterdays stock sell off.  As we scan the U.S. economic calendar for the balance of the week we see nothing that will likely move markets----it seems that only when the monthly employment report is released do we have market moving potential.  We do have earnings season getting under way and…

July 8, 2014  11 amAs we suspected might happen the 10 year treasury after hitting a intraday high of 2.67% last week after the strong employmente report has drifted back down to 2.56% (at this moment).  No one believes the improving economy.  When we wrote last week that even we were feeling 'bullish' on stocks it was a good warning…

July 6, 2014  11 pmOnly a week ago we lamented the markets had reached the pinnicle of boring--of course we knew that this would not last, and it didn't.The employment numbers released on Thursday were very bullish for equities while being bearish for income issues (of course it was just last year that a number like this would have sent…