Question for CMM or Wall or MC or anyone else with bond knowledge With the 2016 bonds now at $96.50 what is the driving investment model to pay such a high price for what appears to be a small yield. Understood when bond was real low and even in the $90 to $92 range that attraction but why pay such a high premium now? Would not other companies that maybe do not have the BK stigma offer comparable or better spreads? I am not a bond guy so I am sorry in advance if this is a stupid question. Thanks.
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