Replies to post #603492 on Fannie Mae-No Politics (FNMA)

[YanksGhost]

I get the oil MLPs as I sold all my ET and AMZA before they tanked. But yield investors have no place to hide. The REITS are scary, now. Treasury's pay nada coupon and bond ETFs like SCHP & TIPS (Barclays) are declining book value as their inventory is degrading by the day with nearly zero yield replacements.

Compared to risk on Carnival junk bonds sold two days as go at 12%+, the JPS @ 8.25 looks rich. The other series like M & N, not so much at around 5%.

You missed my real point, which was NOT that anyone should or would go out and buy JPS. It was that they would not CONVERT to common shares per Moelis because the return and safety are better where they are. That, to me, lowers the risk of dilution.