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bubble bursting on aig and other stuff worried phk will get big downgrade from well known institurion which could wipe out the premium in 1 day
PHK, like most closed end funds, has no analyst coverage, so it's unlikely that someone is going to "downgrade" it. Interesting that there is really a bid behind this name today. I mean, obviously people are hitting it, but this thing isn't going down easy. PHK's upside momentum peaked in early June. I think we see price peak right here.
what are you talking about? Yesterday the 2016 & 2018 AIG bonds traded as high as 75. That's double what they traded at in March/April. Plus the coupon is 5.6 & 5.85%. I understand the need for people to try to provide a narrative to explain price action, but at least keep your stories in the non-fiction category.