RE:RE:Bonds vs SP action
Bonds are garbage. Increasing 2 pennies on the dollar rounds off to zero in Canada.
Most importantly, the higher yield is simply because the risk is increasing. Quite possible that holders of commons sold to park in bonds if they still think the fluffy goodwill assets and out of patent protection pills are worth more than the monster debt.
I'd short the stock, not the bonds. No yield to pay on the stock and they are less secure. Not that these "highly speculative" bonds are secure!
What a Zoo, a complete, utter, deranged Zoo!