TD

CFA General
#1

So I noticed that TD issued some capital today. Just wondering what people think of this. I had them pegged as a pillar of stability in these troubled times. I guess things are pretty bad when the likes of TD have to pay 9% /10%? Thoughts? Willy

#2

I was slightly surprised by the announcement. Though there seems to be healthy amount of demand for the products they’ve been issuing.

#3

Then again, they are 100!!! year notes redeemable at TDs discretion. Willy

#4

They are not really 100 yr notes, they issued a 10yr and a 30yr, the latter is theoreticaly 100yr if converted but is always called in 30yr. It is one of the first 20yr issues in a long long time hence the demand for it

#5

And the difference in duration between a 9% 30-yr note and a 9% 100-yr note is? (Ans: Too lazy to figure out that it is about 6 hours).

#6

6 hours! You do realize what could happen in 6 hours!!!1

#7

JoeyDVivre Wrote: ------------------------------------------------------- > And the difference in duration between a 9% 30-yr > note and a 9% 100-yr note is? (Ans: Too lazy to > figure out that it is about 6 hours). the note is actualy 10% the diff between a 30yr and a 99yr is 0.5 yrs duration