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Bought 2 Vanguard Natural Resources 7.875% Senior Unsecured Bonds Maturing 4/1/20 At 86.59

This is an excerpt from a blog published recently: Stocks, Bonds & Politics: Pared Interest Rate Risk: Sold 300 JTP at $8.55, 50 CORPRA at $26.25, 100 NBB at $21.25 (Roth IRA), 50 EMQ $25.61 and Bought 2 Vanguard Natural Resources 7.875% Senior Unsecured Bond Maturing April 2020 at $86.59

I will have another blog post discussing recent non-fixed income transactions in the near future.

This post is not concerned with the common units or whether the owners of those units will or will not suffer a distribution cut. That subject is discussed in other SA articles: Seeking Alpha Perhaps the most comprehensive of those articles was written by Casey Hoerth titled "Vanguard Natural Resources' Shaky Distribution" A lot depends on what happens with energy prices when VNR's hedges decline after this year. The bond owners would not want to see a common unit distribution funded in part by… Read More …