We have updated our Terms of Use.
Please read our new Privacy Statement before continuing.

An anomaly exploited

8 March 2005

The group is pricing a new 50year bond to yield 5.25% not much more than the dividend yield on its stock. This is odd. But there’s an explanation: bond investors aren t allowed to buy shares.

This content is for Subscribers only


Email a friend

Please complete the form below.

Required fields *


(Separate multiple email addresses with commas)