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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)
|
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
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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 Bond Market Hits a Welcome Downdraft |
Seeking Alpha - June 29, 2011 - By Calafia Beach Pundit
Just five days after I posted that "with 2-yr yields and confidence in the future at record lows, the potential rewards to being optimistic have almost never been better," bang: Treasury yields have shot higher, reducing the price of 10-yr Treasury bonds by 2.1% while wiping out two thirds of a year's worth of coupon yield, and equities are up over 3%.
The most visible trigger for this remarkable turnaround is progress towards avoiding a Greek default, but I suspect there are other factors at work as well. I note that the breakeven inflation rate on 5-yr TIPS has jumped by 21 bps in the past five days, as nominal yields have risen 34 bps and real yields have risen by only 12 bps; this signals that half of the rise in nominal yields is due to rising inflation fears, while the other half is due to stronger growth expectations. I note also that crude oil futures are up almost 5% in the past five days, and the Vix index has dropped almost 18%. All of this leads me to the conclusion that, as I suspected, the market was depressed more by fear than by fundamentals.
For the complete article.
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| Stuff to look at |
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S&P Commentary and Newsletters: S&P
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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