The following bond swaps could have been made in recent years as investors attempted to increase the total return on their portfolio.
From the information presented below, identify possible reason(s) that investors may have made each swap.

Transcribed Image Text:

Call Price YTM (%) 108.24 95 105.20 79 101.50 90 Action 7.71 7.39 7.02 6.78 7.51 a. Sell Buy b. Sell Buy C. Sell Buy d. Sell Buy e. Sell Buy Baal Electric Pwr. 1st mtg. 6%% due 2017 Baal Electric Pwr. 1 st mtg. 296% due 2018 Aaa Phone Co. notes 5 % due 2018 U.S. Treasury notes 6 % due 2018 Aal Apex Bank zero coupon due 2020 Aa1 Apex Bank float rate notes due 2033 Al Commonwealth Oil & Gas 1st mtg. 6% due 2023 U.S. Treasury bond 5 % due 2029 A1 Z mart convertible deb. 3% due 2023 A2 Lucky Ducks deb. 7 % due 2029 NC NC 103.90 105.75 NC 97.15 45 90 72 80.60 8.09 7.40 6.92 10.43 103.90 62 109.86 75