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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
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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)
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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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Corporate Bond Risk Rises in Europe, Credit-Default Swaps Show |
By Michael Shanahan
May 7 (Bloomberg) -- The cost of protecting European corporate bonds from default soared, according to traders of credit-default swaps.
Contracts on the Markit iTraxx Crossover Index of 50 companies with mostly high-yield credit ratings climbed 74 basis points to 625, according to JPMorgan Chase & Co. prices at 6:55 a.m. in London. The index is a benchmark for the cost of protecting bonds against default and an increase signals a deterioration in the perception of credit quality.
The Markit iTraxx Europe index of 125 companies with investment-grade ratings rose 24 basis points to 147, JPMorgan prices show. Credit-default swaps tied to bank debt also rose, with the Markit iTraxx Financial Index of 25 banks and insurers climbing 40 basis points to 223 and the subordinated index increasing 41 basis points to 298.
A basis point on a credit-default swap protecting 10 million euros ($12.7 million) of debt from default for five years is equivalent to 1,000 euros a year.
Credit-default swaps pay the buyer face value in exchange for the underlying securities or the cash equivalent should a company fail to adhere to its debt agreements.
--Editor: Paul Armstrong
To contact the reporter on this story: Michael Shanahan in London mshanahan3@bloomberg.net
To contact the editor responsible for this story: Paul Armstrong at Parmstrong10@bloomberg.net
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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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