On the Apple 40-yr bond ...
— Jim Bianco (@biancoresearch) August 14, 2020
How can you "see ahead" to 40-yrs of credit risk? Even the rating agencies acknowledge they are only able to "see" about 5 yrs out.
Who buys a 40-yr? Someone with specific duration and convexity needs. Long corproates are never about credit.
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August 14, 2020 at 07:47PM
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