As the US heads for yet another Fed Funds rate hike and recession, there is something to be said for a 5.5% yield backed by massive share buybacks, and a 9.1% yield. Both bets have visible growth pathways.
There are worse places to sit out market turbulence. And there are lower risk places too, such as 5% 1-year GICs and corporate bonds that mature near-term (9 months to 2 years). All fixed income assets term structures are inverted.
Elsewhere, my Canadian regulated oligopolies are all in the red today.