|
|
|
|
| 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. |
|
|
| Bonds Online |
|
|
| 5/10/2013Market Performance |
| Municipal Bonds |
|---|
|
S&P National Bond Index
|
3.00% |
|
|
S&P California Bond Index
|
2.96% |
|
|
S&P New York Bond Index
|
3.13% |
|
|
S&P National 0-5 Year Municipal Bond Index
|
0.70% |
|
|
| S&P/BGCantor US Treasury Bond |
400.09 |
|
| More |
|
| Income Equities: |
|---|
| Preferred Stocks |
|---|
|
S&P U.S. Preferred Stock Index
|
848.03 |
|
|
S&P U.S. Preferred Stock Index (CAD)
|
636.26 |
|
|
S&P U.S. Preferred Stock Index (TR)
|
1,701.05 |
|
|
S&P U.S. Preferred Stock Index (TR) (CAD)
|
1,276.26 |
|
|
| REITs |
|---|
|
S&P REIT Index
|
174.07 |
|
|
S&P REIT Index (TR)
|
425.30 |
|
|
| MLPs |
|---|
|
S&P MLP Index
|
2,469.58 |
|
|
S&P MLP Index (TR)
|
5,428.50 |
|
|
See Data
|
|
|
|
 |
|
|
|
|
|
|
Why Euro Debt Matters More Than Oil Prices Or Chinese Inflation |
Forbes - March 25, 2011 - By Steve Schaefer
Mike Mutti, Raymond James’ senior credit strategist, keeps a screen with five-year credit default swaps for European sovereign debt open at all times. That’s because more than any other current crisis facing the world – from the devastating earthquake in Japan to the turmoil in Libya and the Middle East – a severe escalation in Europe’s credit crisis has the capacity to cause a repeat of the 2008 meltdown.
Since the Greek debt crisis erupted nearly a year ago, new issues have cropped up in other peripheral countries (commonly, if not politically correctly, referred to as the PIIGS) every few months. You can almost set your watch to it. Though the disaster in Japan and spike in oil prices put the European debt issue on the backburner for a time, it flared up again this week after Portugal’s Parliament rejected an austerity plan, swiftly followed by downgrades to the country’s sovereign debt ratings.
Mutti acknowledges the challenges facing Portugal, Ireland and Greece, the three PIIGS in the most precarious shape, but believes the bailouts of those nations are essentially priced into the market. Fears crop up every few months, “then the fire is put out when European leaders put another hundred billion euros aside,” he says by way of explaining the ebb and flow in credit markets.
We’ve seen this movie before, he adds, pointing to previous surges in the price of insuring against default on European sovereign debt. What’s notable though, is that while previous spikes in credit default swap prices on Greek, Portuguese and Irish debt were accompanied by similar increases in corporate bond yields, thus far in 2011 increases in Greek CDS have not interrupted tightening in spreads of yields on investment grade corporate bonds to U.S. Treasuries. Of course, as Mutti is quick to point out, that all changes in a hurry if the credit plight of Spain or Italy worsens. (See “Europe’s Debt Crisis: Expect More Flare-Ups, But Breakup Unlikely.”)
For the complete article.
|
|
|
|
|
|
| Partner Market Place |
|
|
|
| Stuff to look at |
Yield and Income Newsletter: A must have for income investors. subscribe NOW
S&P Commentary and Newsletters: S&P
|
|
| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
Keep up with monthly, in-depth coverage of fixed income market strategies, commentary, and insights as seen by our sources. Sign up for the free BondsOnline Advisor now!
Unsubscribe here [+] |
|
|
|
|
|
|
|
|
