Fast Fixed Income

Over the week-end Carl Icahn revealed that he’s bullish on at least some corporate bonds. In an interview with Barron’s, Icahn explained that he’s scooping up debt.

“We've done a lot of investing in the debt market in past recessions, notably in 1990 and 2000, but I have never seen the senior bonds as cheap as they are today,” Icahn says.

And Monday’s Wall Street Journal says much the same thing. Gregory Zuckerman writes, “Some of the best opportunities lie in bonds.”

But, as with all investments, you’ve got to be discriminating. “The best strategy," the Journal says "is to focus on the debt of low-profile companies in relatively stable businesses."

Of course this isn’t the easiest area for most retail investors. However Karen Finerman does have a suggestion. A fairly accessible way in which you can trade that trend is with an ETF called the iShares iBoxx $ High Yid Corp Bond . It's an ETF comprised of corporate bonds issued by some of Finerman's favorite companies including DaVita. And since it's an ETF the risk is spread out.

1) Carnival Cruise: 7 ¾ Nov. 2015
2) Dollar General: 10 5/8 Jul. 2015
3) Allied Waste: 6 7/8 Jun. 2017
4) Mirant: 7 3/8 Dec. 2013
5) DaVita 7 ¼ Mar. 2015

Or if you want another play, you could also look at high grade bonds issued by utilities, adds Tim Seymour.

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Trader disclosure: On Dec. 1st, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Macke Owns (WMT), (MSFT), (UUP), (DIS); Macke Is Short (YHOO), (TM); Finerman's Firm Owns (MSFT); Finerman's Firm Is Short (IYR), (IJR), (MDY),(SPY), (IWM), (COF), (BBT), (USO), (VNO), (EQR); Finerman's Firm Owns (DSX) And Is Short (GNK); Seymour Owns (AAPL), (AA), (BAC), (F), (MER); Seygem Asset Management Is Short (EEM); Seygem Asset Management Owns (EEV)

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