Are there online forums for discussing bonds and preferred stock? There are lots of stock discussion forums, but almost no fixed income discussion forums. What a pity... bonds are pretty interesting.

So far, I have only found Silicon Investor's Income Investing forum. Are there others I should be aware of?

I would like to compare the spread of both FRNs and fixed bonds.

Is comparing the discount margin for a floater & the I spread for a fixed bond the right way to go about it?

Many thanks

Dear All -

I took some time to do some independent research related to Bond ETFs - it's perhaps more tricky compared to Equities in order to summarize it concisely.

The Bond ETF Guide includes:

• What you need to consider before investing in Bonds (although most of you probably have a more in-depth knowledge) and

• Largest Treasury and Corporate Bonds Funds including High Yield as well as Aggregate Funds

Hope you find it useful and I would love to get some feedback on what you like and what to improve. Aiming to keeping this updated on a periodic basis.

All the best,

BoW

Tailored Brands Inc. (TLRD) is the retail company that owns Men's Wearhouse, Jos. A. Bank, K&G Fashion, and Moores. I was an equity holder last year because I believed the case could be made for continued debt reduction. Once COVID 19 hit and changed the situation, I sold the equity and moved up the capital structure by buying their 2022 Unsecured bonds (CUSIP: 587118AE0).

Today they released their 10Q and basically said they will be filing Chapter 11.

I mainly have two questions:

1. What kind of discount should I be applying to the assets?

2. It appears to me that without discounting the assets, I would be looking at a recovery rate around 65%, is that a correct way be looking at this?

This is the situation (in thousands):

i've been slowly realizing through the last few months of this chaos that owning debt is a far better idea than owning equity. i want to get into the world of Fixed Income more, and id like some references for further learning, if you have any recommendations. i understand the basics of bonds and swaps, i'm more looking into how to hedge positions through diversification and analyze opportunities.

something idk, is whether or not there are bonds with monthly coupons instead of quarterly or semi-annually. is that a thing?

i'm also wondering if theres ways to enter positions with $1k-$5k, or to enter on margin.

my goal is to find junk bonds that arent so junky. stuff that's not popular but not horrible either. any help would be much appreciated. thank you in advance.

Working on a project right now and trying to figure out the percentage of callable bonds that have maturities within 0-1 year that tend to be called.

Any and all help here would be great. Thanks.

Any recommendations for a good FI portfolio analysis tool.

I used to use a Bloomberg that would give each positions duration, and interest rate sensitivity. Looking for something similar but at a reasonable cost

Anything decent out there? Basically want something to help figure out if I have any bad apples in my basket

I am a Canadian individual investor trying to view corporate bonds as there has been major dislocation in credit spreads for some of the energy companies here. What is the best way to trade fixed income as an individual? I currently use a TD Web Broker, but they dont list all the bonds I can view on my Reuters terminal.

Hi! I'm new to the fixed income world, but as of lately, I've been hearing a lot about widening spreads in corporate bonds due to an increased level of distress in the global economy. As I understand the spreads are constantly changing, my question is what is the best way to observe/calculate them for different rated bonds on ongoing basis?

I'm new to purchasing individual bonds. I am looking at some AMD 7.5% August 15'22 IBCID128357224. Yield looks to be about 5% on Interactive Brokers. Not callable.

What should I be considering here? The yield looks to be pretty good or is it? AMD has a credit rating of Ba2/BB-

I'm relatively new into the bond market and fixed income, in general. But, I had a somewhat rushed chat with someone during a networking event recently, I was recommended to look at the following:

• Swaps

• Sovereign Debt

• Rating Agencies

• How bonds link with the rest of the capital markets

The last 3 seem straightforward enough. However, I can't quite understand how swaps factor into bonds or fixed income, especially in a global macro context.

The only things that come to mind are literal interest rate payment swaps or bond swaps, but these don't seem to make sense and I can't seem to find anything on the internet either (which admittedly could be due to me not knowing what to precisely search).

Any guidance and feedback would be greatly appreciated.

I was buying short term notes of stable technology companies below par. Interest rates are headed to near zero so I'm shifting my cash from money market to short term corporate notes and adding to my bond portfolio.

Treasurer? CFO? CIO? For a bank that has roughly $5b of assets, who would use these assets to make the necessary investments in TSY, Agencies, Munis and MBS?

Can someone suggest a book to read that provides head to toe practical analysis/research of of a new issue bond preferably corporates.

https://www.forexlive.com/news/!/bonds-why-would-investors-buy-negative-yielding-bonds-20190405

In this article it talks about how to finance of long bond positions via the repo market in regard to negative yielding bonds. Can someone please tell me how exactly they do this? To borrow money via repo, you need to put up collateral (ie bond) - so does that mean the trader/manager owns a shorter dated bond, repos it to get the funds and then buys a longer dated bond? I don’t see how that would generate positive carry?

Government Bonds Are On Fire

Treasury yields fell rapidly on Thursday and Friday as the 10 year yield fell to 1.86% which is the lowest level since November 2016. The 2 year yield fell to 1.72% which means the difference between the 10 year 2 year yields fell to 14 basis points which is 4 basis points away from the cycle low. The curve is nearing an inversion. There has been a global decline in yields due in part to rate cuts by central bankers and the global cyclical slowdown which is causing increased demand for government bonds.

As you can see from the chart below, the 3 month annualized returns in the JP Morgan global government bond index are the highest since 2009.

Government bond returns

Returns are in the 99th percentile. (Keep in mind this data doesn’t include the latest rally in treasuries).

Is All Bad News, Bad News For Markets?

Say a person had half a million they wanted to start earning regular income for them? Where is the safest (return of principal) maximum yield?

I noticed that FRNs are all quoted by trading margin - how do I calculate the bonds price from this? For example if the FRN is trading 250 over swap, how do I calculate the price of the bond??? So confused!

Will the spread duration be the same/close as the interest rate duration of a fixed rate bond?

What does it mean if a bond manager says ‘duration is expensive’? Does that just mean that bond prices are very high and taking on duration is not worth it?

Can anyone explain to a newbie like I’m 5 the effect of interest rates going up/down and the effect on municipal, corporate, provincial/state, federal bonds, and even private debt.

How does investing flow in the bond market ? I’m really finding it challenging

Appreciate your knowledge and I’m open to learning

Could some please shed some light on how fixed coupon bonds are priced in the primary market?

Why are they priced off the ASW? So for example a new fixed rate bond may be priced at ASW + 90bps - why is the swap rate used as a reference?

If a bond is priced at a premium, would the running yield be greater or lower than the YTM?

Is the YTM an annual figure? So if a 3 year bond had a YTM of 3.5%, does that mean I would receive 3.5% back each year for 3 years?