AGL Notes: Passing hat now old hat

Different week, different borrower, same old story: Too little reward for a potentially very long-term loan.

Following a process of entropy well flagged in this publication, the degradation of new income securities offers continues with AGL Energy Subordinated Notes.

You can’t blame the companies themselves. With many investors overlooking improbable but potentially major risks and investing regardless, why wouldn’t companies try and skim the cream before the milch cow runs dry?

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