CONVERTIBLE BONDS FOR THE REST OF US

The 'tourist does a little math to show how convertible bond pricing works

I know many of you read the MacroTourist with the understanding there will be no math, but I am breaking our agreement today to explain a concept that’s been getting some attention lately.

What am I talking about? Why, convertible bonds, of course.

A good pal asked the other day how Peloton and MicroStrategy could issue bonds at a zero percent interest r…