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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
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3.00% |
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S&P California Bond Index
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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
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848.03 |
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S&P U.S. Preferred Stock Index (CAD)
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636.26 |
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S&P U.S. Preferred Stock Index (TR)
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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 bonds: Now what? A checklist for investors |
Los Angels Times - Jan. 24, 2011
The plunge in tax-free municipal bond prices over the last three months has been unnerving for veteran and novice muni investors alike.
Last week, the market stabilized as buyers got more aggressive, lured by tax-free yields at two-year highs on some types of muni issues.
Whether this is the ultimate bottom in prices -- and top in yields -- is anyone's guess. The market also rallied in mid-November and again in mid-December, but those recoveries quickly sputtered.
Although the muni market slump started as part of a general sell-off in bonds in October, it quickly snowballed amid rising fears about the fiscal troubles of many state and local governments. That's the issue that has dominated the market this month.
Now what? For muni investors and potential investors trying to figure that out, here are four things to consider:
1) Last week's rally didn't move prices or yields dramatically. The point being, if you're looking to buy you can still find plenty of high-yielding bonds. And if you're looking to sell, you will still find bidders trying to low-ball you on price. There hasn't yet been a massive change of heart in the market place.
One measure of yields is the average of the Bond Buyer index of 40 long-term muni issues nationwide (charted at left). The annualized tax-free yield on the index peaked at a two-year high of 5.95% last Tuesday. It slipped to 5.85% by Friday, but still was up about a full percentage point since October. It's also more than a point above the current 4.57% yield on the 30-year U.S. Treasury bond -- the interest on which is federally taxable.
Among popular muni mutual funds -- which overall continue to suffer record cash outflows -- share price gains mostly amounted to less than 1% last week.
For the complete article.
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| Partner Market Place |
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| Stuff to look at |
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S&P Commentary and Newsletters: S&P
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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