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| BondsOnline.com: instant access to and extensive coverage of over 3.5 million stocks, bonds, indexes and other securities covering major and emerging markets and exchanges across the globe. |
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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
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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)
|
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 bond issuance at 11-year low |
CNNMoney.com - March 9, 2011 - By Charles Riley
NEW YORK (CNNMoney) -- Always wanted to own a little piece of your local incinerator? Well you might be out of luck.
Municipal bond issuance is on track to log its lowest quarter in more than a decade, according to Thomson Reuters.
Only $32.5 billion in muni bonds have been issued this year, as of Tuesday. That's down from $61.1 billion over the same time period last year. And the number is on track to fall far below the $132.8 billion level registered in the fourth quarter of 2010.
The drop in issuance comes amidst a sustained muni bonds sell off, as worried retail investors flee the market and the media continues to churn out stories about state and local governments struggling with severe budget shortfalls.
Elected officials are racing to close the gap between state revenues and expenditures, but, generally speaking, they are not issuing lots of new debt.
Instead, lawmakers are employing tax increases and spending cuts to try to bridge the budget gap.
In the past, they might have kicked the can down the road, and issued muni bonds to help fill that gap. It's one tool lawmakers can use to raise money, but it's not a really popular one at the moment.
Where the risk is (and isn't) in muni bonds
Ebby Gerry, the managing director and head of municipal fixed income at UBS Global Asset Management, said that, while it's not the biggest factor, the new political atmosphere that has emerged in the wake of the November elections has contributed to the decline in muni issuance.
Gerry says lawmakers are now eager to be more responsible and more conservative in their fiscal management, and "less dependent on debt" at the state level.
California is a prime example, with newly elected Gov. Jerry Brown making deep cuts to his state budget. At the same time, he has said the state won't offer any muni bonds until later this year.
Gerry said that at the same time last year, it might have been a different story.
For the complete article.
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Income Security Recommendation January 2013 Issue.
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