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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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Global High-Yield Default Rate Falls to 14-Month Low |
By Esteban Duarte and Bryan Keogh
June 7 (Bloomberg) -- The pace of corporate defaults slowed for a sixth month in May to the lowest level since March 2009, according to Moody’s Investors Service.
The global default rate on high-yield bonds declined to 7.5 percent from 9 percent in April and 9.8 percent a year earlier, Moody’s said in a report. The U.S. rate fell to 7.9 percent from 9.5 percent, while the pace in Europe declined to 6.8 percent from 7.8 percent.
The rate of corporate failures worldwide is forecast to drop to 2.4 percent by the end of this year and 1.9 percent by May 2011 as yields relative to benchmark rates continue to fall and unemployment increases “only modestly,” according to the report.
“The 44 percent reduction in default rate over the last six months is not surprising given the number of defaulted companies has declined dramatically in 2010,” according to the report.
The extra yield investors demand to own junk bonds rather than government debt widened to 729 basis points on June 4 from a 28-month low of 554 basis points on April 26, according to Bank of America Merrill Lynch’s Global High-Yield Index. The average spread reached 743 basis points on May 25, the highest all year. A basis point is 0.01 percentage point.
High-yield, or junk, bonds are rated below Baa3 by Moody’s and BBB- by Standard & Poor’s.
--Editors: Michael Shanahan, Paul Armstrong
To contact the reporters on this story: Esteban Duarte in Madrid at eduarterubia@bloomberg.net; Bryan Keogh in London at bkeogh4@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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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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