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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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The Real Fear For The Muni Market Isn't The Default Rate |
Business Insider - May 22, 2011 - by Tim Lee
The potential for mounting debt and falling tax receipts to lead to huge defaults by state, regional, and local governments has precipitated many conference calls and webinars focusing on "setting the record straight" or "busting the myths" for municipal bonds.
In each of these conversations I've heard a similar message: The default rate for municipal bonds is incredibly low, and while it may spike relative to recent history, there is still a shockingly low probability of real pain for muni investors from defaults.
There is actually a much larger and less-discussed issue facing the municipal bond market.
[In Pictures: 6 Numbers Every Investor Should Follow.]
To set the stage, let's rewind and review a couple of key points about how and why municipal bonds have been a great investment in the past:
Favored tax status. Because these bonds are issued by government entities, generally they offer investors tax-free interest income. For high-net-worth individuals this can be a huge benefit.
Interest-rate sensitivity. The price and yield of a bond move inversely, meaning that as interest rates fall, bond prices rise and vice versa.
Falling-rate environment. Interest rates have generally been dropping since the last major peak in the early 1980s.
Because of the three factors above, the real fear for the municipal bond market will arise when the primary pool of muni-bond holders (high-net-worth individuals) begin to see the previously rising values of their bond accounts begin to drop quickly.
Read more: http://money.usnews.com/money/blogs/the-smarter-mutual-fund-investor/2011/05/20/the-real-fear-for-the-muni-market#ixzz1NBj7FoKg
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| Stuff to look at |
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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