IPF 6.125% 2020

Why is this such a laggard? Recent business update pretty much as expected, concerns over Poland appear to be overdone, Mexico supposedly developing nicely and stock price, after earlier fall , has stabilised. Yet it trades 8 points below its cousin Provident Financial 6% 2021and yields 20% more than the multitude of (mostly unrated and highly leveraged) property issues on ORB.


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