The first month of the 3rd year for this $400k Mini Portfolio!
It is a decent start with this $400k Mini Portfolio continuing to register a positive Month on Month performance, Absolute Performance, as well as Annualised Performance.
One sad piece of news that I received on 4th January 2022 was the Regulatory Call Notice for the 12% Lloyds USD bond. The bond will be called at 100 on 4th February 2022. This unfortunately means that I will lose about 1% (USD1k thereabouts) net on this $112k Original Investment. My breakeven point was March 2022 but sadly the Issuer Lloyds decided to not be nice and call it on the second business day of 2022 (although it can be argued if they wanted to be evil, they could have given notification on 1st December 2021 to call the bond on 1st January 2022).
After this bond is called on 4th February 2022, I will probably be on the lookout for another decent bond to add to this Mini Portfolio as my Margin Ratio will drop below 80% (which to me means under utilising leverage). No rush, rates are going to rise and I am sure there will be better USD bonds to buy soon.
My current Margin Ratio before Lloyds Bond is called = 84.17% (within my target 80-85%).
Regards, Newbie
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