Coca-Cola and the Illusion of Safe Harbor
Trading at an all-time high with a 1.31% free cash flow yield against a 4.98% Treasury rate, Coca-Cola offers equity risk for fixed income underperformance.
Consumer Defensive
Morning Blast: P&G and the 5% Yield Wall
P&G reports steady volume gains, but a 3.65% free cash flow yield leaves equity holders facing negative spreads against a 5.03% sovereign hurdle rate.