5 Min Read
NEW YORK (Reuters) - Among the winners from the recent retail-driven frenzy in U.S. stocks are investors in the niche market of convertible debt, capping a year of gains for the securities and potentially drawing new interest.
FILE PHOTO: An AMC theatre is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. REUTERS/Carlo Allegri
While buyout firm Silver Lake capitalized on a surge in AMC Entertainment, one of the stocks at the epicenter of the retail frenzy linked to a convertible bond, others have also seen their bonds gain.
The other winners of the Reddit-fueled rallies: convertible debt theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
5 Min Read
NEW YORK (Reuters) - Among the winners from the recent retail-driven frenzy in U.S. stocks are investors in the niche market of convertible debt, capping a year of gains for the securities and potentially drawing new interest.
FILE PHOTO: An AMC theatre is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. REUTERS/Carlo Allegri
While buyout firm Silver Lake capitalized on a surge in AMC Entertainment, one of the stocks at the epicenter of the retail frenzy linked to a convertible bond, others have also seen their bonds gain.
Tesla Superchargers in Petaluma, Calif. Justin Sullivan/Getty Images
The U.S. convertible securities market is wrapping up a blockbuster year with near-record issuance and superb performance.
The market returned 42.9% year-to-date through Dec. 15, as measured by the ICE BofA U.S. Convertibles index. This makes converts one of the top performing global asset classes this year. The
S&P 500 has returned about 16%, the junk-bond market, 4% and even the technology-heavy
Nasdaq Composite is behind converts with a 41% return. Converts are having their best year since 2009, when the market gained 49.1%.
The big gain this year reflects a surge in shares of
Tesla