I have never heard that the expiration date of a loan is a deadline to avoid default. Anyway it is quite obvious everyone is waiting for the re-statements.
All baby bonds and preferreds have been hammered, total dislocation in high-yield corporates. Nothing special going on...check NYMTO and NYMTP for example. Absurd prices but nobody trying to arbitrage.
Chinese families do not trust local products. There will be always high demand for foreign products in this sector. Unless local press tries to destroy reputation like they tried and almost succeeded with YUM and others.
I am waiting to buy the stock. I think the offer is fair but I am afraid it won't get through. In case of a dip of 10% or more from here BXLT is good long-term value even with some risks: hemophilia and low free cash conversion through 2020.
Common equity recovered well from the lows. Time is now for preferreds/bonds to catch up. The environment for high yield is even worts than for REITs but current prices are ridiculous.
absurd move...chance to short...it seems like someone thinks no more diesel engines will be produced due to the VW scandal. So they sell platinum (in diesel) and buy palladium (in gasoline). Have a laugh....
This security is completely mispriced. I do hope some rationality comes back since: the common stock is recovering; the Fed will hesitate until the end of times to raise rates. RFT undervalued by at least a couple of bucks.
That's a shame...I agree...it is not a small segment of the market but it is almost forgotten. By the way, great value in loan funds as well...nav quite steady in the last 12 months but prices in steep decline.
Junk bonds are getting creamed this year. One of the worst asset classes with energy. I had a baket of income securities: more or less all tanked so I do not see RAS as a special case. It's a general malaise. I do not know if the Fed move will change something. I would like to buy more but I do now want to add risk since this are illiquid securities. Anyway I prefer RFTA/RFT...shorter maturities and better protection in a worst-case scenario.