aye dumb bashers look at PFX over 22 bucks going near par very soon. What does it tell ya?
I bet you will say going up for yield. Actually yield goes down when price goes up so your theory dont hold water completely. could somethings up??. Debt holders are smarter than commons.
My view is debt goes near par when debt holders are beginning to feel they will get their money back. Which means something underneath is coming to protect them or something else will guarantee their original investment
Yes, PFX bonds have made a major move higher over the past month while PNX stock is only up slightly. As a trader I have learned that bondholders tend to be more serious investors. When bondholders and stockholders disagree it's usually a good idea to bet on the bondholders. Just bought some PNX for a trade. PNX's investment portfolio is benefitting from the bull market.