Problem
The bond information in the below table as of last close on Nov. 9, 2022 (all yields are expressed in annual term):
Select Apple Inc. vs. The Boeing Company Bonds:
|
Symbol
|
Callable
|
Coupon
|
Maturity
|
Moody's
|
S&P
|
Price
|
Yield
|
|
AAPL4984115
|
Yes
|
0.750%
|
05/11/2023
|
Aaa
|
AA+
|
98.228
|
4.432%
|
|
AAPL4984119
|
Yes
|
1.125%
|
05/11/2025
|
Aaa
|
AA+
|
91.575
|
4.750%
|
|
AAPL4984120
|
Yes
|
1.650%
|
05/11/2030
|
Aaa
|
AA+
|
79.968
|
4.874%
|
|
AAPL4984116
|
Yes
|
2.650%
|
05/11/2050
|
Aaa
|
AA+
|
62.413
|
5.248%
|
|
BA4983333
|
Yes
|
4.508%
|
05/01/2023
|
Baa2
|
BBB-
|
99.720
|
5.118%
|
|
BA4983334
|
Yes
|
4.875%
|
05/01/2025
|
Baa2
|
BBB-
|
97.928
|
5.788%
|
|
BA4983328
|
Yes
|
5.150%
|
05/01/2030
|
Baa2
|
BBB-
|
93.329
|
6.283%
|
|
BA4983330
|
Yes
|
5.805%
|
05/01/2050
|
Baa2
|
BBB-
|
86.404
|
6.917%
|
Explain the observed differences in yield. In general, what are callable bonds? What are the differences between investment grade bonds vs. high yield bonds?