Low low distressed debt trades

• RadioShack bonds traded last week with a 5 handle.
• The Walter Energy 8.5s traded at 6.25; massive current yield!
• The EXXI 3s traded in the high 20s - low 40%s ytm.
• Molycorp secured debt moved down about 15 points into the high 40s - around 30% ytm. People had gotten way too optimistic before earnings.
• The Molycorp 6s unsecured and the 3.25s unsecured are both single digit now. The 3.25 ytm is over 400%!
• Goodrich bonds have come down into the mid 40s again. That's a ytm inthe mid 30%s.