CSL had a 3 for one share split, so it regained it's pre-gfc levels faster than 8 years.
Thanks Bob, I'm not surprised its been a real out performer.
Hi Elizabeth , How would short duration instruments like Floating Rate notes with their short duration have fared during the GFC Cheers Steve
Hi Stephen, The perceived credit risk of the company issuing the bonds was the most important factor during the GFC. Very low risk company bonds were ‘flight to quality’ and performed well. At this point in the cycle investors preferred Longer dated fixed rate bonds with long duration to lock in high rates - they reasoned interest rates would have to fall. High quality floating rate bonds with short durationwould have also performed well, but poorer credits less so, given a greater perceived chance of default.