preferred stock ^ convertible bond

regular preferred-stock trades in the ….. corp bond desk, along with regular corp bonds.

convertible-bond and convertible-preferred-stock trade in the the ….. equity desk, along with common stocks

Deciding factor is interest-rate sensitive. See P187 [[after the trade is made]]. In general, anything that’s IR-sensitive trades in the fixed income side. For example, convertible preferred stock can pay a fixed amount of dividend now, but can be converted to common stock, so it’s not IR-sensitive.

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