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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)
|
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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BofA settlement with investors could buoy ratings of RMBS bonds: Fitch |
HOUSINGWIRE - July 1, 2011 - Write to: Kerri Panchuk
Bank of America's decision to settle with investors over mortgage repurchase and servicing claims could buoy the ratings of 10% of residential mortgage-backed securities bonds rated by Fitch Ratings.
Fitch made that conclusion after evaluating Bank of America's (BAC: 11.03 +0.64%) agreement to pay $8.5 billion to Bank of New York Mellon, the trustee overseeing 530 legacy Countrywide RMBS trusts for investors.
"Virtually all credit ratings on Countrywide-issued Alt-A and subprime bonds are already at or near default levels so BofA’s settlement is unlikely to lead to significant upgrades," said Grant Bailey, head of Fitch’s RMBS surveillance group. "On the other hand, current and future recovery prospects for these bonds certainly improve due to expected settlement payouts and mandated servicing improvements."
Fitch ratings said the amount allotted will not have a broad-sweeping impact on ratings, but does create the possibility of upgrades in relation to the 10% of the Fitch-rated bonds impacted.
Going forward, the New York-based rating agency sees the BofA settlement over the representation and warranty litigation as a framework for how other legacy RMBS issues will be handled in the future.
For the complete article.
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| Stuff to look at |
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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