Saturday, December 6, 2014

Investment-Grade Credit Spreads Widening

What do McDonald’s (MCD), Philip Morris (PM), Caterpillar (CAT), Kimberly-Clark (KMB), and Target (TGT) have in common?
Yes, they’re all large-cap stocks that pay solid dividends.
In fact, three are even Dividend Aristocrats, having increased their dividends for at least 25 consecutive years.
But the common characteristic I’m referring to isn’t related to their dividends… or even their common stocks. Instead, I’m looking higher up in the capital structure. (more)

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