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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
|
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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Risk-Off Trades and Price Discovery |
Seeking Alpha - June 22, 2011 - By Noel Archard
A friend of mine recently told me that she doesn’t like my blog posts as they’re too complex. She prefers Kevin’s weekend reading list over my “technical-manual ramblings”. In an attempt to stir things up, I’m going to write about the dead-sexy topic of risk-off trades and our old friend, price discovery.
Our Capital Markets team has seen a healthy degree of trading in (and some redemptions out of) riskier asset classes over the past week due to global concerns of a Greek default, a cooling Chinese economy and recent weak US economic numbers. High yield bonds in particular have been a favorite for income generation for most of the year, but have come under some strain recently due to the concerns mentioned above.
For example, on Thursday June 16th our iShares iBoxx $ High Yield Corporate Bond ETF (HYG) traded more than 7 million shares for the day, which is 5x more than the 30 day average daily volume (ADV) and an all time high. State Street’s SPDR Barclays Capital High Yield Bond ETF (JNK) saw similar record volumes, trading 5x more than its 30 day ADV. Amidst all this volume, HYG closed with a 201 basis point discount to net asset value (NAV) that night versus a year-to-date average premium of 48 basis points. JNK traded in line with HYG, closing with a 195 basis point discount to NAV as of close.
For the complete article.
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| Partner Market Place |
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| Stuff to look at |
Yield and Income Newsletter: A must have for income investors. subscribe NOW
S&P Commentary and Newsletters: S&P
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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