JPMorgan's Preferred Stock Sale Fuels Frenzied Hunt for Coupons.

JPMorgan Chase & Co.'s recent preferred shares issue with a 6.5% coupon has sparked significant interest in the market, leading to high trading volumes and investor enthusiasm. The appeal of these securities lies in their ability to provide reliable returns through coupons, especially in a low-interest rate environment. Banks like JPMorgan are strategically managing their capital stack by replacing older securities with new ones offering higher coupons, a trend seen across the industry. Investors seeking income are drawn to these high-coupon securities, making them a popular choice in the market. [Extracted from the article]