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  1. #11
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    Quote Originally Posted by Grimy View Post
    I've applied for some. The term of the bonds is covered by forward contracts so I see the risk as being acceptable and it diversifies my bond holdings. Will be interesting to see what level of scaling (if any) there will be.
    Likewise for the diversification. The withdrawal from refining brings a bit less volatility.

  2. #12
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    I think this is a good time to be leaning into more bonds at these sort of levels as I think the Bear is well and truly in charge of the market for at least the rest of 2022 and maybe some of 2023 as well. Bonds have had the worst start to the year in many decades so I think high quality medium term corporate bonds are good buying here at over 5%. I prefer rated bonds with companies that have an extremely robust and well proven business model that will survive any financial conditions.
    Ecclesiastes 11:2: Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  3. #13
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    Quote Originally Posted by Grimy View Post
    I've applied for some. The term of the bonds is covered by forward contracts so I see the risk as being acceptable and it diversifies my bond holdings. Will be interesting to see what level of scaling (if any) there will be.
    Rate set at the minimum of 5.80%. Interestingly they only took the $100m not the optional extra $25m of oversubscriptions so I'm speculating this wasn't heavily oversubscribed or scaled much ?
    Ecclesiastes 11:2: Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  4. #14
    Ignorant. Just ignorant.
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    The Christchurch Airport 5.18% 19/5/2028 issue was scaled (for me at least) by 50%!

  5. #15
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    CHI020. Not scaled. I got what I applied for.
    Last edited by Grimy; 14-05-2022 at 05:56 PM.

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