The Lemon Fool

That explains it.

Results out Friday: https://www.londonstockexchange.com/exc ... 15614.html

In short, a great year, lots of money handed out to good causes, profits up, net debt down. Which is just as well...

Would not be surprised to see a loss this year, but they are clearly capable of much belt tightening so I am not really concerned yet.

hiriskpaul wrote:Results out Friday: https://www.londonstockexchange.com/exc ... 15614.html

In short, a great year, lots of money handed out to good causes, profits up, net debt down. Which is just as well...

Would not be surprised to see a loss this year, but they are clearly capable of much belt tightening so I am not really concerned yet.

Our local Co-Op is, from anecdotes, doing very well as people steer clear of bigger food stores. They have also maintained good stock of some items in short supply in the local Waitrose. Surely the funeral business is doing OK, not a pleasant topic but relevant nonetheless.

Wizard wrote: Surely the funeral business is doing OK, not a pleasant topic but relevant nonetheless.

According to their industry body, apparently not. Costs have risen due to things like PPE, and due to the current situation people are not spending on the profitable extras which is where funeral businesses really make their money.

ptr120 wrote:

Wizard wrote: Surely the funeral business is doing OK, not a pleasant topic but relevant nonetheless.

According to their industry body, apparently not. Costs have risen due to things like PPE, and due to the current situation people are not spending on the profitable extras which is where funeral businesses really make their money.

Thinking about it that makes sense. No use going for the exotic hardwood coffin with gold handles if nobody is allowed to be there to see it.

In case anyone is interested in selling, there appears to be someone wanting to buy this in size. I got an online quote to sell 100k nominal just before the close of 127.5 (YTM 4.57%). Could not get a quote to buy at all, other than for the minimum 1k at 128.5.

Personally I am not selling at this price as it still provides a very good return for the risk at 127.5 and I have nowhere better to put the money at present.

hiriskpaul wrote:In case anyone is interested in selling, there appears to be someone wanting to buy this in size. I got an online quote to sell 100k nominal just before the close of 127.5 (YTM 4.57%). Could not get a quote to buy at all, other than for the minimum 1k at 128.5.

Personally I am not selling at this price as it still provides a very good return for the risk at 127.5 and I have nowhere better to put the money at present.

I am now being offered 128 for up to 250k nominal! This is an online quote.

More available on the other side this morning as well I could get 15k nominal at 128.75.

hiriskpaul wrote:

hiriskpaul wrote:In case anyone is interested in selling, there appears to be someone wanting to buy this in size. I got an online quote to sell 100k nominal just before the close of 127.5 (YTM 4.57%). Could not get a quote to buy at all, other than for the minimum 1k at 128.5.

Personally I am not selling at this price as it still provides a very good return for the risk at 127.5 and I have nowhere better to put the money at present.

I am now being offered 128 for up to 250k nominal! This is an online quote.

More available on the other side this morning as well I could get 15k nominal at 128.75.

This bond has been one of my better decisions and one I too feel comfortable that the yield feels appropriate for the risk, until many others I feel are overpriced/significantly overpriced. I with there were more like this. This hits a nice sweet spot in the yield/risk/maturity equation.

I was offered 127.62 for these today in size up to 100k nominal. That's a YTM of just 3.86%. There was a time I would have been out of these like a shot at that yield, but where else am I going to get 3.86% on a 4 year bond of this quality?

hiriskpaul wrote:I was offered 127.62 for these today in size up to 100k nominal. That's a YTM of just 3.86%. There was a time I would have been out of these like a shot at that yield, but where else am I going to get 3.86% on a 4 year bond of this quality?

Where indeed? Having not really looked too closely at this for the last couple of months as in my list of things to sell first this would have have been one of the last to go, I was shocked to get a quote to sell at 128.17 for smaller volume a few days ago.

As you say though, I see nothing to switch into of better value. Crazy times.

Have just bought a (very) few more 42TF at 4.5p which with Stamp Duty and no trading fee gives a YTM of 4.6% (I think - needs double checking !!)

Woz

Woz,

Using XIRR in Excel I get a YTM of 4.72% for 42TF at that price. I have quite a few of these tucked away but have virtually forgotten about them as the spread is normally prohibitively large to trade. I will take another look now you have highlighted the price, thanks !

Bear in mind that even small dealing charges can knock a big hole in the IRR when only able to purchase relatively small amounts.
I could only get a quote for 15,000 Notes @ 4.5P earlier this week when I made the IRR a bit less than 3.9%

Laughton - yes you are right.

I rarely buy anything less than £5k in the "Fixed Interest" sphere - this purchase was for 100,000 so was a bit over £4k

I said "very small" as a lot of posters here seem to have a bit more dosh than I do !!

Laughton wrote:Bear in mind that even small dealing charges can knock a big hole in the IRR when only able to purchase relatively small amounts.

Very good point.
Can't trade them online with ii and there's a £50 phone fee

No problem with 42TE though.
While I think of it, I'll email and ask why they won't trade 42TF.

V8

I purchased mine on line with ii ..!

When I reurned later to see if Icould buy more they weren't available for on line purchasing

I suspect that I had taken up what was immediately on offer - (with EQi I would have had a screen allowing me to then put an order through to the dealers with my highest price I was willing to pay with options for them to fill or kill or to buy as many as they could)

During my current investigation into brokers that offer online dealing with PIBS,PSBS,Bonds etc, I noticed today that Hargreaves Lansdown appear not to recognise 42TF at all, let alone whether you can buy and sale or whether you can deal online or via telehone


Does anyone have any further info on this please ?

Obviously I will ask them directly tomorrow

Even ii appear to offer an "occasional" on line service for these (I recently made two online purchases with them)

Woz

Wozzitworthit wrote:During my current investigation into brokers that offer online dealing with PIBS,PSBS,Bonds etc, I noticed today that Hargreaves Lansdown appear not to recognise 42TF at all, let alone whether you can buy and sale or whether you can deal online or via telehone


Does anyone have any further info on this please ?

Obviously I will ask them directly tomorrow

Even ii appear to offer an "occasional" on line service for these (I recently made two online purchases with them)

Woz

I hold 42TF at HL. It is very illiquid and has never been available for online trading.

Thanks for the info Paul.

I was able to buy with EQi and ii online but only very infrequently

HL confirmed a few minutes ago that these cannot currently be traded online.If we decide to move back to then then at laest we can hold them, and,at a push, sell them by telephoning a dealer. Current plans are to hold, and we have a shed load of these between us ......

Woz

Hi all

Does anyone know if 42TF pays out at the same time as 42TE?

I've held 42TE for years and as usual I received my coupon a couple of days after the due date into my ii account. I bought a very small amount of 42TF in mid 2021 so this would be the first instalment for me but nothing had appeared in my ii account yet..

Kind regards

Carnotaurus