|
|
|
|
| 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
|
|
|
|
 |
|
|
|
|
|
|
Euro, Euro Bonds, Forex Disconnected |
The Street - May 21, 2010 - by BBH FX Strategy
There's definitely a bit of disconnect between the eurozone bond markets, the euro, and the wider foreign exchange market. We note that peripheral eurozone bond spreads to bunds have crept higher and are at the widest they've been since May 10, the Monday after the weekend the European stabilization plan was announced.
Newswires are quoting bond traders as saying European Central Bank purchases of government debt were larger Thursday and Friday compared with earlier in the week and so it looks like eurozone central banks have needed to step up the buying program in response to rising jitters and wider spreads. Indeed, CDSs on the peripheral countries have blown out, with five-year Greece at 750 basis points, much higher than 590 basis points on May 10.
Germany's upper and lower houses have approved the country's portion of the stabilization plan, but this was expected. Markets had priced this in already and so the risk had been that a no vote would have caught the markets wrong-footed.
Equity markets were lower in Europe, and U.S. equity futures point to a down open, while U.S. Treasuries remain bid (the 10-year note is at the lowest since May 2009).
Given all these strong risk-off currents in the markets, one would expect the euro to be lower, perhaps even testing recent lows, and yet it is holding just above $1.25. With the eurozone being the source of all the market mayhem, we simply do not think that the euro can defy gravity for much longer. Intervention fears are overblown, in our view, and so once this period of correction/consolidation has run its course, the euro will be vulnerable once again.
|
|
|
|
|
|
| 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 [+] |
|
|
|
|
|
|
|
|
