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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
|
3.13% |
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S&P National 0-5 Year Municipal Bond Index
|
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)
|
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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Build America Bonds may be the new sovereign debt |
Reuters - June 22, 2010
Some investors in Europe and Asia are discovering the Build America Bond program created in the U.S. economic stimulus plan last year offers attractive yields and stability, and are finding the bonds more appealing than sovereign debt, two Citigroup directors said on Thursday.
"We're seeing some European investors diversify into U.S. states," said Patrick Brett, director of Citigroup (C.N) U.S. municipal strategy, at the Reuters Global Real Estate and Infrastructure Summit in London.
"When you actually sit down and go through it credit point by credit point, you see investors actually voting with their wallets and investing in U.S. states," he added.
Taxable BABs have spread through the municipal bond market like wildfire since debuting in April 2009, with more than $100 billion sold by states, cities and other municipal issuers wanting to obtain the program's 35 percent federal rebate on interest costs. In May, BABs made up a third of new issues, according to the U.S. Treasury.
Meanwhile, investors such as U.S. pension funds that do not need tax breaks afforded by typical tax-free municipal bonds have swept up the safe debt that pays higher yields than most munis.
Over the last seven or eight months, foreign investors' interest has grown too, Brett said. A foreign investor's BABs inquiry jump-started a nearly $1 billion California deal last November, according to Brett.
Now investors in Europe, Asian financial centers such as Hong Kong and even the Middle East are looking into the bonds, including sovereign funds and central banks, he added.
For the complete article [Reuters]
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Income Security Recommendation January 2013 Issue.
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