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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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The Right Way To Own Muni Bonds |
Forbes.com - June 14, 2010 - by Tom Dalpiaz
Pick your poison: individual bonds, bond funds or managed portfolios.
Perhaps recently you've taken a fresh look at municipal bonds and decided that they are the right investment to help you achieve your bond market objectives. After all, for the conservative investor looking for attractive aftertax income and capital preservation, investment-grade intermediate municipal bonds remain a compelling choice.
There are a number of vehicles within the municipal bond universe capable of taking you where you need to go. What choices do you have and how do you know which one is right for you?
There are essentially three broad choices for the individual municipal bond investor: Buy individual bonds through a broker, use some sort of bond fund or have a separate, personalized portfolio run by a portfolio manager for an annual fee. Each option, of course, has its pluses and minuses and what is appropriate for each investor depends to some degree on personal preferences and how much one has to invest.
Buying individual municipal bonds through a broker can offer the transparency of knowing exactly what you own at all times. The issuers, coupons and maturity dates are clearly there for you to see. As long as the credit quality of the bond issuers in your portfolio remains intact, you can expect to receive the return of your principal at maturity for each position. Buying individual muni bonds can give you greater precision in crafting the journey you take through the muni market. You can avoid or emphasize particular sectors, issuers, rating categories, maturities and coupons depending on your income needs and tolerance for risk.
The cost of buying individual municipal bonds through a broker, however, is not always transparent since a broker makes a commission or markup on each transaction, the exact amount of which does not have to be disclosed. The Electronic Municipal Market Access system (or EMMA) website of the Municipal Securities Rulemaking Board has improved price transparency somewhat by providing information on municipal bond trading, but many of the reported trades on EMMA reflect interdealer activity at levels not accessible to retail investors. It is still tough for retail investors to match up specific muni bond offerings with available trade reporting.
An additional factor to consider when buying individual municipal bonds through a broker is whether or not that particular broker has meaningful muni bond knowledge and experience. Often enough, it is common to find brokers that have an equity focus with munis constituting something of an afterthought.
For the entire article please click [here].
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| Stuff to look at |
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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