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Strategies & Market Trends : BAK - Investing
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To: kollmhn who wrote (2813)5/31/2012 6:05:38 PM
From: scout4value  Read Replies (2) of 3249
 
Re: Flipper-

Secondly, a AAA one year pfd at 3% IS worth roughly par

I think anchoring is going on here, we view this as a poor rate because they were paying 7% before
If some one offered a AAA, 3%, 2 year maturity, manditory redeemable vehicle I think they would be oversubscribed.
What is a 2 Year CD paying??? that s/b the comparrison imho
Nuveen is selling 5 year PFDs at less than 3%
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