Last week in bonds
Last week's bond market had a few interesting tidbits. New record low coupons for five, ten and thirty-year corporates from Bristol-Myers Squibb and IBM. The five-year record didn't stand for long, Unilever lowered that limbo bar today.
Also found a company worth a look, although at first glance it's more risk than I usually like. QR Energy (QRE) hit the junk bond market with some 9.25% paper. The company is an MLP with a distribution yield of about 11%. That yield is tempting, but back out borrowing and unit issues over the past year and cash flow was negative. Still, I hope to take a closer look before too much longer and see if I can find some positives in the mix.
As always, your comments are welcome here or at the article.
Disclosure: No position in QRE.