Brookfield Office Properties Inc T.BPO.P.A

Dovish Fed

[Carena]

Hi there,

Fed release at 2pm is good news for commercial real estate (VNO spiked at 2pm).

All in all, good news for our BPO preferred shares.

Carena

[Carena]

Just another tid bit.......you would have to be very very convicted to be net short BPO prefs after today's Fed press conference or what seemed more like a Powell Happy Dance! VNO and SLG both ended the day up 11%.     Have a great night! Carena

[pierrelebel]

The Federal Reserve maintained its benchmark interest rate on Wednesday in a range of 5.25%-5.50%, the highest in 22 years, but signaled it will likely cut interest rates by a total of 75 basis points, or 0.75%, in the year ahead. In September, the Fed's forecasts had suggested the central bank would cut interest rates by 0.50%. The Fed has moved in 25-basis-point increments over the last

[CrazyTrader]

Carena, I think the Shorts must already have a way out.   You have to be CRAZY to be shorting at these levels without a back-up plan....ie,  able to obtain shares privately or some sort of option taken out to limit risk.  You see it all the time.... A HUGE outstanding short position suddenly significantly shrink but open trading volume and share price movement  doesn'

[Carena]

Crazy, That is  what I said, you would have to have very high conviction to short the BPO prefs in this market. That is to say, you have to be crazy shorting BPO prefs at this point. Carena

[CrazyTrader]

I'm pretty sure they are still shorting....  If shorts were shorting Bank Prefer shares dispite all the Redemptions going on.....   You can bet shorts will continue to short BPO all the way back up to around $20 to $25.   Crazies be Crazies   All just my opinion/view/thinking

[Carena]

Crazy, Ok I now see what you were saying....anyways, we are about to find out. Lol. Have a great weekend, Carena

[Carena]

Good morning Crazy, The short volume is out and you were right, still lots of shorting BPO prefs, including 52,300 for the T series (even after the dividend rate reset to $1.7 per share for next 5 years!).  As I said, these investors are very convicted or as you say, Crazies! Lol. Carena

[pierrelebel]

The Consolidated Short Position Report is not out yet. It typically comes out four business days after the 15th and last day of the month.  I expect it on Thursday Dec 21st (may be Wednesday) What you saw is the Short Sale Trading Statistics Summary which include intra-day shorts.  For example a broker (or day trader) may sell short 5,000 shares in the morning in response to a bid and

[Carena]

Hi Pierre, Thanks for the post.  I did not realize the intra day shorting and covering would be a big thing, especially given the liquidity of the BPO prefs. Have a great day, Carena