All improvements, whether on Vanderbilt or on the below-grade subway platforms, is quite innovative.
Corporate bonds rated BBB are yielding 8%, while their below-investment-grade BB brethren yield 9%.
The risk premium in financial markets comes in as Treasury yields move up and fewer below-investment-grade debentures stop trading like yesterday's sardines.
Below-investment grade paper yields more than 8%, as do A-rated preferred stocks.
Since March 2009, those factors have both been big tailwinds for below-investment grade paper, helping drive both the JNK and HYG 50% higher in price over the past year and a half.
FORBES: Ford And Icahn Look Like Better Bond Bets Than Uncle Sam
Brad Hintz, an analyst at Sanford Bernstein, calculates a potential hit of 28% to Bear Stearns' 2008 earnings per share if income from fixed-income trading falls 20%, financial sponsor merger and acquisition dries up and it sees a 35% reduction in below-investment grade loans.
The willingness to take a chance on blemished credits pushed below-investment grade securities above par value for the first time since before the financial crisis, up from a nadir of 55 cents on the dollar in December of 2008, according to Bank of America Merrill Lynch.
FORBES: Ford And Icahn Look Like Better Bond Bets Than Uncle Sam
He coaches auditors to use action verbs such as "verify" and "confirm" and tells them to write below a 12th-grade reading level so it can be easily understood.
That rates these banks as low-grade junk, far below where the major ratings agencies now have them.
We have a system that administers grade-level assessments and gives no credit to students who start well below grade level and make amazing progress or to those who are able to race ahead.
The Council also needs member states to strengthen export, customs and financial controls on dual-use items that are "below grade" of those newly sanctioned items.
The average student enters KIPP two years below grade level in fifth grade, and leaves KIPP in eighth grade achieving at a ninth-grade level.
The administration cited a bevy of statistics to back the ban, such as more than half of city adults, or 58%, are overweight or obese and nearly 40% of city public-school students in eighth grade or below are obese or overweight.
When city health officials voted to approve the large-drink ban in the fall, they routinely pointed to statistics showing that 58% adults citywide are overweight or obese, and nearly 40% of public-school students in eighth grade or below are obese or overweight.
If its credit ratings should sink below investment grade, GMAC's unsecured bonds would become off-limits to many institutional investors, making it even harder for GMAC to borrow money affordably.
While most are enriching below 20 percent, this material, too could be turned into weapons-grade uranium, although with greater effort than is the case for the 20-percent stockpile.
In the mid-1990s individual loans looked appealing to investors, but their ratings (often below investment grade) made them too risky for conservative types.
Point One leases virtually all its capacity, under contracts in which the price of a voice-grade link has plunged in the past 18 months from 5 cents a mile per month to below 2 cents.
Investors will want to be overweight below-market beta allocation, meaning investors will continue to move out of risk assets and into high end investment grade, defensive sectors like utilities and overall net long safety versus risk assets.
FORBES: Bear Or Bull? Last Week's Stock Uptrend Unlikely To Last
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