Fixed Income Beacon

Exploring the world of fixed income opportunities from an active, 18+ year institutional manager. Focus on senior securities.

[Fixed Income Beacon @FixedIncomeB]

@walkerdeibel

[Fixed Income Beacon @FixedIncomeB]

TEGNA 5.00% Notes due 2029:
-Trading at discount to par + yielding over 6%
-64 television stations, 51 markets, 39% of households
-my take: https://t.co/W6I8kdARcj
@Boytrader08 @walkerdeibel @johnneyyzhang would love your thoughts

[Fixed Income Beacon @FixedIncomeB]

@KakandeAlex

[Fixed Income Beacon @FixedIncomeB]

@kahome_steve V. interesting take!

[Fixed Income Beacon @FixedIncomeB]

@walkerdeibel

[Fixed Income Beacon @FixedIncomeB]

why in God's name would I discuss a perpetual subordinated bond from a regional bank? https://t.co/dbQBSY3vwX #PreferredStock #FixedIncome #BondInvesting #YieldToCall #QDI #IncomeInvesting #ShortTermInvesting #BankBonds #PerpetualPreferred #FloatingRate

[Fixed Income Beacon @FixedIncomeB]

@AJamac23 Interesting structure—especially the full-cost coverage by Range. From a bondholder’s view, though, what matters is disciplined capital allocation and manageable geopolitical risk. As long as U.S. shale remains the cash engine (which it is), I’m comfortable staying long the 2029s

[Fixed Income Beacon @FixedIncomeB]

@AnalysisOp That demand tailwind is no joke. Range’s low-cost position + disciplined capex = serious free cash flow runway. If you're holding the 2029s like I am, this just adds more conviction to the credit story. 7.3% YTM looks better by the day. $RRC

[Fixed Income Beacon @FixedIncomeB]

@ZitoSalena @DougBurgum @Range_Resources Love to see this kind of turnout for @Range_Resources. As someone long the 2029s, I’m all for more eyes on their Marcellus ops and smart capital strategy. Credit’s tightening, cash flow’s strong—and now we’ve got cookie tables too? Bullish all around.

[Fixed Income Beacon @FixedIncomeB]

@The_Long_Bull Understandable hesitation—volatility post-Martinez had everyone second-guessing. But with partial ops restored, insurance recoveries in motion, and 2028s still yielding 7.6%, the setup’s cleaner than it looks. When credit is this mispriced, scaling in isn’t just guts—it’s math.

[Fixed Income Beacon @FixedIncomeB]

@AaronPeters10 Equity's waking up, but the real story’s been brewing since these 2028 bonds started yielding over 7.6% post-Martinez. Insurance checks landed, throughput recovering, and spreads still wide. About time the market caught on.

[Fixed Income Beacon @FixedIncomeB]

@MarcJacksonLA $PBF still tagged “Underweight” while bonds r quietly trading sub-97+ yielding 7.6%+ to '28 w/ full insurance recovery in play Martinez comes back online Q4, crack spreads firming, + the asset base includes 16.1 NCI @ the West Coast gate. Equity may drift, but credit is mispriced

[Fixed Income Beacon @FixedIncomeB]

@eninvs_com Let's go!

[Fixed Income Beacon @FixedIncomeB]

@REALALERT1 Refinery fire priced in, insurance checks cashed, and Martinez is already partially back online. Bond yields north of 7.6% and spread over Treasuries >370 bps!!

[Fixed Income Beacon @FixedIncomeB]

"The net debt-to-EBITDA ratio cannot be meaningfully calculated because of the negative earnings—but these bonds are offering over 370 basis points of spread and might be your best bet in high yield right now." https://t.co/WIbUTeO7YQ