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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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| 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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Credit will save stock bulls in next ‘flash crash' |
MarketWatch - May 6, 2011 - by Jon Markman
Commentary: Strong credit market is good for equities
SEATTLE (MarketWatch) — An unintended, unexpected, unprecedented crisis of liquidity among high-frequency traders on May 6, 2010 undercut the deepest roots of stock investors' confidence in the fair operation of markets — a condition that persists to this day.
Yet markets have barreled forward. High-beta stocks are up 35% since the “flash crash” despite the mistrust, while the old boys of the Dow Jones Industrial Average DJIA +1.30% have gained 18%. Why?
The answer is that this current market cycle is not about stocks at all. The only thing this cycle cares about is credit, and corporate bonds are in such a raging bull market now that equities are being dragged along for the ride.
To the credit market, the flash crash was an accident that happened to someone else. Credit slowed down to look, with high-quality bonds sinking 1% in value that week and a diversified pool of debt sinking 1.5%, but it was nothing like the 7.5% spill of equities. And while stocks went on to sink as much as 15% by July, credit was done with its sympathies by mid-May, sinking 2.5% at its worst before rebounding, well, in a flash.
Spending spree
This was good for everyone because the credit market is supporting the equity market much like a responsible grown-up might support his wayward little brother, shoveling money into the hands of corporate treasurers who are turning around and buying their own stock hand over fist, and when they can't get enough they are buying other companies' shares.
For the complete article.
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