Fundamentals of Financial Management (Concise 6th Edition)

Chapter 7 Bonds and Their Valuation 221

CORPORATE BONDS

Market Breadth

Last updated: 3/6/2008 at 6:35 PM ET

Total Issues Traded
Advances
Declines
Unchanged
52 Week High
52 Week Low
Dollar Volume *

3,774

1,457

1,873

126

170

344

15,640

MERRlLL LYNCH
BANK OF AMERICA CORP
JPMORGAN CHASE & CO
SPRINT CAPITAL
GOLDMAN SACHS GP
GENERAL ELECTRIC CAPITAL
SPRINT CAPITAL
TELECOM ITALIA CAPITAL
UNITED PARCEL SERVICE
SPRINT CAPITAL

MER.GDW

BAC.HBM

JPM.JPF

S.GJ

GS.YL

GE.HEE

S.HK

Tl.GK

UPS.QE

S.GM

2,587

1,083

1,187

53

161

191

7,350

942

299

532

68

8

117

4,989

245

75

154

5

1

36

3,301

About This Information:

End of Day data. Activity as reported to FINRA

TRACE (Trade Reporting and Compliance Engine).

The Market breadth information represents activity in

all TRACE eligible publicly traded securities. The most

active information represent the most active !xed-

coupon bonds (ranked by par value traded). Inclusion

in Investment Grade or High Yield tables based on

TRACE dissemination criteria. ”C” indicates yield is

unavailable because of issues call criteria.

Most Active Investment Grade Bonds

All Issues

Issuer Name Symbol

4.125%

5.750%

6.000%

6.875%

5.950%

5.250%

8.750%

5.250%

4.500%

6.900%

Jan 2009

Dec 2017

Jan 2018

Nov 2028

Jan 2018

Dec 2017

Mar 2032

Nov 2013

Jan 2013

May 2019

100.886

103.143

104.566

74.000

100.516

101.750

81.120

100.834

103.964

76.313

99.500

99.280

100.632

69.000

95.956

97.678

76.063

95.908

103.617

73.950

100.886

99.280

101.587

72.563

98.520

98.770

80.000

95.908

103.734

76.313

3.051

5.847

5.784

10.048

6.151

5.413

11.159

6.112

3.651

10.565

0.910

–1.339

–0.413

0.063

0.576

–0.335

0.000

–1.949

1.053

0.563

A1/A+/A+

Aa1/AA/AA

Aa2/AA–/AA–

Baa3/BBB–/BB+

Aa3/AA–/AA–

Aaa/AAA/--

Baa3/BBB–/BB+

Baa2/BBB+/BBB+

Aa2/AA–/--

Baa3/BBB–/BB+

Coupon Maturity

Rating

Moody’s/S&P/

Fitch

High Low Last Change Yield %

Issuer Name Symbol Coupon Maturity

Rating

Moody’s/S&P/

Fitch

High Low Last Change Yield %

Issuer Name Symbol Coupon Maturity

Rating

Moody’s/S&P/

Fitch

High Low Last Change Yield %

THORNBURG MORTGAGE
GENERAL MOTORS
E TRADE FINANClAL
CCH I
BLOCKBUSTER
COMMUNITY HEALTH SYSTEMS
HERTZ CORP
GENERAL MOTORS ACCEPTANCE
NEIMAN MARCUS GP
INTELSAT(BERMUDA)

TMA.GB

GM.HB

ET.GF

CHTR.HM

BBI.GB

CYH.GI

F.GRY

GMA.HE

NMGA.GD

INTEL.GR

Most Active High Yield Bonds

8.000%

8.375%

8.000%

11.000%

9.000%

8.875%

8.875%

6.875%

9.000%

9.250%

May 2013

Jul 2033

Jun 2011

Oct 2015

Sep 2012

Jul 2015

Jan 2014

Sep 2011

Oct 2015

Jun 2016

49.000

79.750

86.000

70.125

87.500

99.500

99.000

81.710

98.250

101.250

35.500

74.000

85.000

69.688

83.000

98.750

94.750

79.000

97.000

100.875

40.000

75.938

86.000

70.070

83.500

98.750

97.086

80.516

97.250

100.875

32.807

11.262

13.429

18.517

14.096

9.108

9.535

14.099

9.511

9.093

–23.750

–1.063

0.500

–0.430

1.625

–0.750

0.586

–0.484

–0.688

0.000

Caa2/CCC+/CCC–

Caa1/B–/B–

Ba3/B/--

Caa2/CCC/CCC

Caa2/CCC/CC

B3/B–/CCC+

B1/B/BB–

B1/B+/BB

B2/B/B–

B3/B–/BB–

AMGEN
SANDISK CORP
NABORS INDUSTRlES
PROTEIN DESIGN LABS
AMGEN

AMGN.GM

SNDK.GC

NBR.GP

PDLI.GF

AMGN.GN

Most Active Convertible Bonds

Source: FINRA TRACE data. Reference information from Reuters DataScope Data. Credit ratings from Moody’s, Standard & Poor’s, and Fitch Ratings.

0.125%

1.000%

0.940%

2.000%

0.375%

Feb 2011

May 2013

May 2011

Feb 2012

Feb 2013

92.438

74.000

100.500

80.608

88.467

91.813

72.690

96.000

78.882

87.000

91.883

74.000

100.000

79.443

87.587

3.083

7.086

0.940

8.231

3.133

–0.745

–0.116

–0.750

0.203

–0.663

A2/--/--

--/BB–/--

--/BBB+/A–

--/--/--

A2/--/--

Investment

Grade High Yield Convertibles

* Par value in millions.

Most Active Investment-Grade, High-Yield, and Convertible Corporate

Bonds, March 6, 2008

Tabl e 7 - 4

Source: http://online.wsj.com, “Corporate Bonds,” The Wall Street Journal Online, March 7, 2008.