Bond Investment Ideas

R.R. Donnelley & Sons Company is a global provider of communication services. It has over 60,000 customers, including most of the Fortune 500, solid product diversification, and expected 2014 revenue in the $11.5 to $11.8 billion range. […]

While I think bond investors looking for predictable cash flows can certainly look at equities to complement fixed income holdings, it’s probably not appropriate to view them as substitutes. There is inherently more capital risk in owning stocks. […]

I’ll start by talking about some of the well documented and rehashed reasons why you should not buy high yield bonds. Interest rates are low, spreads (difference between yields on junk credit and investment grade bonds/Treasuries) are very narrow, and junk debt just doesn’t present a compelling opportunity. […]