|Last Price$32.69||Day Change (%)-0.88%|
|Open Price$32.93||Day Change ($)-0.29|
|Day Range32.03–32.93||52-Week Range25.30–36.57|
As of Fri 5/22/2015 5:25:00 PM | USD
Despite their near-term challenges, we still see upside.
Widening investment-grade credit spreads and rising interest rates lead to losses.
Rising interest rates have taken their toll, but as the Fed delays dialing back on stimulus, investors are poised to recapture some of their losses.
Corporate credit spreads are fairly valued--albeit at the tight end of the range that we view as fairly valued.
The corporate bond market will probably struggle to return much above break-even in 2014.
Get our sector-by-sector take on the bond market, plus our five best bond ideas.
Growing electricity demand in Texas, environmental legislation in California, federal emissions regulations, and increasing market uncertainty may help Calpine establish a moat.