No. of Recommendations: 1
I have been watching JEF for a month or so now. In particular their shortest term series, the 7.75's of March 2012. Now selling below par @ $99 handle.

What initially intrigued me on paper was the fact that they do nearly $3B in annual revs, and they have approximately a 1.7X ratio or so of cash to debt.

The lower coupon 2015's are most compelling from a capital gain perspective as they are fetching 78 cents on the dollar right now.
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