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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
|
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: |
|---|
| Preferred Stocks |
|---|
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S&P U.S. Preferred Stock Index
|
848.03 |
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S&P U.S. Preferred Stock Index (CAD)
|
636.26 |
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S&P U.S. Preferred Stock Index (TR)
|
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
|
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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Why Fears of a Municipal Credit Meltdown Are Overblown |
Seeking Alpha - June 22, 2011 - By Research Recap
Standard & Poor’s has already disputed Meredith Whitney’s alarming outlook for municipal debt. Now a new working paper from Harvard Business school adds to the argument that fears of a muni meltdown are overblown.
While acknowledging that states do face challenges, S&P last month said it does not expect a crisis similar to the European sovereign debt situations. S&P said “The state sector has weathered a broad range of bond market challenges and in our view has retained its relatively strong credit profile.”
Now Daniel Bergstresser of HBS and Randolph Cohen of MIT conclude that “In sum, fears of widespread municipal default are overblown. Although spreads have tightened somewhat since December, doomsday scenarios have already been incorporated into market prices. While there is a good chance that negative investor sentiment will lead to further spread widening, the probability of the kind of widespread default that would be required to justify current municipal bond yields is low.”
For the complete article.
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| Stuff to look at |
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Income Security Recommendation January 2013 Issue.
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