Trade Idea

AEE 3.5% 2031 Cheap vs AEP 4.1% 2028

BUY

AEE 3 1/2 01/15/31

US023608AJ15
SELL

AEP 4.1 09/15/28

US845437BR25

Tightening in AEP 4.1% 2028 makes the bonds look expensive. We highlight the dislocation against AEE 3.5% 2031. While AEE 31's have on average traded 2 bps tighter than AEP 28's over the LTM, they now trade 21bps wider. Holders of AEP 28's (BBB+) have the opportunity to take profits at 74bps and switch into AEE 31's (BBB) at 95bps.

Start a free trial
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

More trade ideas

Dislocation in Mizuho Curve

Dislocation in Mizuho Curve

June 28, 2021
BUY

MIZUHO 1.979 09/08/31

US60687YBL20
SELL

MIZUHO 4.018 03/05/28

US60687YAR09
Steepening of CNOOC Curve

Steepening of CNOOC Curve

June 25, 2021
BUY

CNOOC 7 1/2 07/30/39

US65334HAJ14
SELL

CNOOC 4 3/8 05/02/28

US12634MAE03
Dislocation in ICE Curve

Dislocation in ICE Curve

June 24, 2021
BUY

ICE 1.85 09/15/32

US45866FAN42
SELL

ICE 3 3/4 09/21/28

US45866FAJ30
Unilever Curve Steepens

Unilever Curve Steepens

June 23, 2021
BUY

UNANA 5.9 11/15/32

US904764AH00
SELL

UNANA 3 1/2 03/22/28

US904764BC04
Fiserv Curve Steepens

Fiserv Curve Steepens

June 22, 2021
BUY

FISV 2.65 06/01/30

US337738BC18
SELL

FISV 4.2 10/01/28

US337738AR95
PPL 4.125% 2030 Tighten and Look Rich vs Peers

PPL 4.125% 2030 Tighten and Look Rich vs Peers

June 21, 2021
BUY

ETR 1 3/4 03/15/31

US29365TAK07
SELL

PPL 4 1/8 04/15/30

US69352PAQ63
BDX 1.957% Becomes Cheap vs ANTM 4.101 2028

BDX 1.957% Becomes Cheap vs ANTM 4.101 2028

June 18, 2021
BUY

BDX 1.957 02/11/31

US075887CL11
SELL

ANTM 4.101 03/01/28

US036752AG89
TRPCN 4.25% 2028 Tightens Against Peers

TRPCN 4.25% 2028 Tightens Against Peers

June 17, 2021
BUY

EIX 2 1/4 06/01/30

US842400GU17
SELL

TRPCN 4 1/4 05/15/28

US89352HAW97
CAG 1.375% 2027 Cheap vs MO 4.4% 2026

CAG 1.375% 2027 Cheap vs MO 4.4% 2026

June 16, 2021
BUY

CAG 1 3/8 11/01/27

US205887CF79
SELL

MO 4.4 02/14/26

US02209SBC61
EQIX 1.55% 2028 Widens Against Peers

EQIX 1.55% 2028 Widens Against Peers

June 15, 2021
BUY

EQIX 1.55 03/15/28

US29444UBL98
SELL

FISV 4.2 10/01/28

US337738AR95
TFCFAME 3.7% 2024 Widens and Looks Cheap vs DIS 3.35% 2025

TFCFAME 3.7% 2024 Widens and Looks Cheap vs DIS 3.35% 2025

June 14, 2021
BUY

TFCFAME

US90131HAD70
SELL

DIS 3.35 03/24/25

US254687FN19
UPS 4.45% 2030 Tighten and Look Rich vs UNP 2.4% 2030

UPS 4.45% 2030 Tighten and Look Rich vs UNP 2.4% 2030

June 11, 2021
BUY

UNP 2.4 02/05/30

US907818FH61
SELL

UPS 4.45 04/01/30

US911312BY18
ENBCN 5.5% 2077 Get Rich vs TRPCN 5.3% 2077

ENBCN 5.5% 2077 Get Rich vs TRPCN 5.3% 2077

June 10, 2021
BUY

TRPCN 5.3 03/15/77

US89356BAC28
SELL

ENBCN 5 1/2 07/15/77

US29250NAS45
Verizon 2.625% 2026 Trading Cheap to AT&T 3.4% 2025

Verizon 2.625% 2026 Trading Cheap to AT&T 3.4% 2025

June 9, 2021
BUY

VZ 2 5/8 08/15/26

US92343VDD38
SELL

T 3.4 05/15/25

US00206RCN08
Dislocation in EXC 4.05% 2030 vs WMB 3.25% 2030

Dislocation in EXC 4.05% 2030 vs WMB 3.25% 2030

June 8, 2021
BUY

EXC 4.05 04/15/30

US30161NAX93
SELL

WMB 3 1/4 05/15/30

US893574AP88