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| Bonds Online |
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| 5/10/2013Market Performance |
| Municipal Bonds |
|---|
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S&P National Bond Index
|
3.00% |
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S&P California Bond Index
|
2.96% |
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S&P New York Bond Index
|
3.13% |
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S&P National 0-5 Year Municipal Bond Index
|
0.70% |
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| S&P/BGCantor US Treasury Bond |
400.09 |
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| More |
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| Income Equities: |
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| Preferred Stocks |
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S&P U.S. Preferred Stock Index
|
848.03 |
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S&P U.S. Preferred Stock Index (CAD)
|
636.26 |
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S&P U.S. Preferred Stock Index (TR)
|
1,701.05 |
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S&P U.S. Preferred Stock Index (TR) (CAD)
|
1,276.26 |
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| REITs |
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S&P REIT Index
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174.07 |
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S&P REIT Index (TR)
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425.30 |
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| MLPs |
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S&P MLP Index
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2,469.58 |
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S&P MLP Index (TR)
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5,428.50 |
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See Data
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Muni Bond Yields Higher Than Junk: DoubleLine's Gundlach |
CNBC - Jan. 19, 2011 - by Gennine Kelly
Investors need to think about junk bonds in relation to municipal bonds, Jeffrey Gundlach, CEO of the fixed-income investment management firm DoubleLine Capital and former CIO of TCW Group, told CNBC on Wednesday.
"There's a tax benefit in municipal bonds. When you take that into account on a tax-adjusted basis, long-term munis yield 8.25 percent—about a percent and a quarter more than a basket of junk bonds," Gundlach said.
"One can say there are problems in municipal bonds, in terms of fiscal situations at the state level. But either those problems are going to blow up or they're not," he said.
"If the problems don't blow up, you're obviously going to have better results in munis and, if they do blow up, junk bonds are going to blow up too," Gundlach said.
"It's kind of three strikes and you're out when your looking at junk bonds," he said.
"The municipal bond market is going to have investors scared to an even greater degree than they are now, so the watch word is 'dry powder' for the municipal bond market," Gundlach said.
"The problem is that people only buy munis for one reason: the tax benefit. And people who do that are all in...they have all their fixed-income money in munis. Now all is a lot," he said.
For the complete article.
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Income Security Recommendation January 2013 Issue.
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