📄 Extracted Text (104 words)
27 March 2015
US Fixed Income Weekly
/
We are dealing with mostly deeply distressed names here, with an average
dollar price of 50-80pts in between the two baskets. Readers should realize
that many of these names are unlikely to survive to pay off these bonds - and
therefore this recommendation is not made under assumption of a credit
continuing to perform to maturity. Rather, we suggest that divergences from
fair value in these cases are too extreme and support a short-term tactical
trading opportunity.
Deutsche Bank Securities Inc. Page 31
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0087412
CONFIDENTIAL SDNY_GM_00233596
EFTA01385944
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