Senior bonds trade with low yields, junior bonds at higher yields, and preferred stock at higher yields yet. (alephblog.com)
Permits waiver of this prohibition against subordination for a public agency borrower that is financing ongoing capital programs and has outstanding senior bonds under a preexisting indenture for an A-rated direct loan that meets specified security and other criteria. (congress.gov)
Switching out of senior bonds and hybrids to invest in Australian residential mortgage - backed securities (RMBS) while house prices are falling is one of the more surprising recent trades, writes Christopher Joye. (afr.com)