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May 15, 2020. We are placing a BUY Limit order on BTZ BlackRock Credit Allocation Income Trust. Pays 7.35%. We are hoping the price comes DOWN to our Limit Order price of: $12.55 If BTZ does not decline to our buy price, we will raise our buy price.

This small position is less than one percent of the Core Portfolio.

Link to full article is below.

Buy What the Fed is Buying

Corporate bonds are getting a boost

Through the special vehicles with credit guarantees from the Treasury, the Federal Reserve is making massive buys of US corporate and municipal bonds. It’s doing this to both stabilize the bond and credit markets now, as well as working to drive down yields and credit costs for corporations, municipalities and other debt issuers.

This means both segments and others have a major buyer that underpins prices. Just like after 2007-2008, the Fed kept the bond portfolio and reinvested maturities and interest for most of the following decade. And recently, the new and renewed buying is bulging the Fed’s portfolio to nearly $7 trillion and climbing.

Friday News

Sorrento Therapeutics (NASDAQ:SRNE) gallops 56% premarket on robust volume in reaction to reports that it has discovered an antibody, dubbed STI-1499, that, it says, can provide 100% inhibition of COVID-19 and flush out the SARS-CoV-2 virus from the body within four days.

“We want to emphasize there is a cure,” says CEO Henry Ji. “If we have the neutralizing antibody in your body, you don’t need the social distancing. You can open up a society without fear.”

The antibody, one of “hundreds” it screened, blocks the coronavirus’ spike proteins from attaching to ACE2, a receptor on the surface of healthy cells that serves as a “doorknob” to open the cell to infection.

Ji says STI-1499 can be used as preventative therapy since there are no unwanted side effects, adding that it may be more effective than a vaccine.

The company is partnering with NY-based Mount Sinai to develop an antibody cocktail, Covi-Shield, comprised of three different antibodies, including STI-1499, for prophylactic use. It says it can produce up to 200K doses per month and is looking to produce “tens of millions” to meet demand.

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