lawman
Thinks s/he gets paid by the post
All corporate notes with coupons 6% and higher have been sold out at TDA as bond yields have pulled back and the spreads have narrowed. I think we can count on Powell to say something next week to spook the markets again so we can get those 6%+ yields again. Hopefully my orders for GS and BOA will execute tomorrow. The Wells Fargo 6% 3 year note is pending execution. The secondary markets are littered with a lot of low coupon notes from banks and other companies. High grade notes from technology companies (A rated) are trading with very narrow spreads to treasuries and not worth buying at this point. It appears that fixed income investors are crowding into the stronger sectors in fixed income and bidding those securities up. In any case, I have no plans to buy any more new issues until I see a "6" or higher as the leading digit. I'm pretty confident that we will see better yields this tax loss selling season.
Thanks...I'm always interested in your thoughts..