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David Albrycht from Newfleet Asset Management was on CNBC Monday to provide insights on bond offerings by Apple Inc. (NASDAQ: AAPL) and Netflix, Inc. (NASDAQ: NFLX) and opine on Fed’s interest rate policy going forward.
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Apple
“Rates are very, very low,” Albrycht said. “Apple being very opportunistic is looking at this, we can bring, we think they are probably going to bring $5 billion to markets to [few tranches], looks about 15 to 20 cheap, discounted to the existing debt. I look at Apple, they already have significant cash on their balance sheet.”
He continued, “So, they are probably doing this to deal to do special dividend or stock buyback. When I look at pricing, I am not really too excited about it, we’ll do probably some of the higher quality energy companies as opposed to doing Apple. I can do Apche, I can do Williams at much bigger concession.”
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Netflix
“As far as Netflix, the high yield deal that just came. Netflix is going to bring a billion dollar deal, looks like two [points] somewhere in the mid-5s, great fundamentals for that company, we are actually in the deal already,” Albrycht said.
Is Fed Going To Raise Rates This Summer?
“I think if the Fed is going to do any time of rate move this year, it’s going to be a token 25 basis points trial balloon to sort of validate quantitative easing, Albrycht replied. “But I would have to [err] on the side of why did you do QE2, why did you do QE3, you want to liquefy the bank’s balance sheets, yet you are going to raise rates with the 10-years in the 160 range threaten yield curve and take away that interest margins, it makes no sense to me.”
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.