CenturyTel trust preferred (formerly Embarq preferred) yielding over 9% to maturity. CenturyTel is investment grade, near 52-week high.

Comcast trust preferred yielding just under 8% to maturity. It is a great deal compared to the underlying comcast bonds yielding in the 6%'s. I do wish there were no NBC deal, though.

Floating rate trust preffered backed by Goldman bonds. Yielding 5%ish current yield and 6% yield-to-maturity with upside kicker if short rates increase. Par is 25, so there is potential for capital appreciation.

Floating rate trust preffered backed by Goldman bonds. Yielding 5%ish current yield and 6% yield-to-maturity with upside kicker if short rates increase. Par is 25, so there is potential for capital appreciation.