Hi everyone,
I would like to buy some PR bonds hoping I can capture some upside. I understand that, in practice, bonds which are heavily invested by large institutional investors will have the highest recovery rate. Assuming that large institutions will invest among other in large issues of bond, I would like to go with GO (general obligation) bonds with the highest outstanding issue. But I got lost when screening IB bond universe. Some bonds have very little outstanding amount, 1-2mln$. So…