Thanks.. seemed like a no brainer to me, but who knows these days.. Small chunks of BBB bonds out there with short maturities still seem to pop up, especially in the financials.. I'm sure there is a lot more potential to be made trading the underlying stock, but I feel OK about spreading out into short maturity bonds in companies that have what look to be serviceable balance sheets.
I picked up a smaller quantity of bonds in $1000 chunks a couple of weeks ago that are backed by CIT at 16% YTM in November if I remember correctly. CIT makes me a little more nervous than GNW, but they've switched to a bank holding company, haven't yet eliminated their dividend, etc.
Short term though, especially May timeframe, GNW seemed like a pretty safe bet as far as bonds go.
because there will NOT be a negative event. GNW is under the control of program trading.... It will take great news to send her to da moon. Sit tight and you are right bto say that bond activity says we are OK.