These are high yield bonds for a reason. I have some experience with high yield bonds.
The price will move around for similar reasons as the SP, driven by the fear/greed ebb and flow, of perceived value of future cash flows and the impact of inflation on the currency of issue.
The volatility is less than the SP, and the price trends back to face value if, as I do, you hold to maturity. A common provision is to extend the duration by a year with a nominal step up, say 1% in coupon, if issuer prefers not to repay.
It's in everyone's interest for the issuer to remain intact.
Ann: FY24 Full Year Financial Results Presentation, page-163
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Last
$33.53 |
Change
-1.780(5.04%) |
Mkt cap ! $6.589B | |||
| Open | High | Low | Value | Volume |
| $34.62 | $34.99 | $33.36 | $99.83M | 2.953M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 238 | $33.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $33.61 | 1000 | 1 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| MIN (ASX) Chart |