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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
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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
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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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| 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)
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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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Sell In May And Go Away? |
NASDAQ - May 5, 2011 - by J.D. Steinhilber
The stock market adage "sell in May and go away" is based on the historical tendency for stocks to generate most of their positive returns during the six-month period from November 1 through April 30. Since 1950, the Dow has appreciated 7.4% on average during this favorable period, versus only a 0.4% average return in the May 1 through October 31 interval. It is not difficult to imagine this seasonal pattern playing out again this year. The stock market was very strong in the favorable six-month period just ended. The Dow gained 13% from November 1 through April 30. Looking out over the next six months, there are plenty of factors that could derail the bull market, including:
1. The end of Fed money printing (for now anyway). When the Federal Reserve completes its $600 billion debt monetization program at the end of June, it will no longer be injecting $75 billion per month of newly printed money into the financial system. To be sure, the Fed will not be tightening monetary policy by either restoring a positive interest rate or reducing its bloated $2.7 trillion balance sheet. Nonetheless, the end of so-called quantitative easing will undoubtedly test investor risk appetites and the powerful upside momentum of stocks since the program was announced.
2. Peaking leading economic indicators . The economy has positive momentum now, but unprecedented monetary and fiscal stimulus will begin to be withdrawn in the months ahead, and it remains to be seen how the economy will fare. The stock market leads the economy, and the U.S. economy in 2012 is very likely to be weaker than in 2011, due in part to the expiration of stimulus enacted in late 2010 (i.e., reduced Social Security withholding and 100% depreciation on new capital investment).
3. Inflation pressures unlikely to be "transitory." The Fed continues to obfuscate the inflation problem and is out on a limb relative to almost every major central bank in the world. Inflation pressures are much more likely to be "sticky" than "transitory." Given that the U.S. average price of gasoline is $3.94 today versus $2.80 six months ago (a 40% increase), Americans know that the Fed's story doesn't add up. Although monetary policy remains extraordinarily loose in the U.S., most foreign central banks are tightening monetary conditions to confront obvious inflation pressures, which raises risks for assets tied to the global growth and reflation theme.
Read more: http://community.nasdaq.com/News/2011-05/sell-in-may-and-go-away.aspx?storyid=74278#ixzz1LUbpOZ8C
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