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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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Bond Vigilantes Show Private Sector Weakness |
Seeking Alpha - July 15, 2011 - By Dana Blankenhorn
When the so-called “bond vigilantes” attack a country, as they did Greece recently and Italy this week, policymakers wring their hands and there is a knee-jerk “flight to quality” – whatever that means.
But this is a market. Someone makes money on every trade. And in this case, that someone is the vigilante.
Consider. Since the start of the year, the effective rate on Greek government debt has climbed from less than 12% to roughly 18%. That's an increase of nearly 50%, the difference being paid in Euros that are currently worth about $1.40 to the dollar. That's some serious yield, and some serious profit.
Now it's happening in Italy. Despite a high private savings rate that actually makes its debt manageable, despite the government getting together on a package of austerity measures that will wipe out its annual deficit in three years, this week's sale of nearly $3 billion in bonds, denominated in Euros, drew a yield of 5.9%.
With stock markets around the world stuck in neutral, that's a pretty fat yield. Meanwhile the price of German bonds, also denominated in Euros, continued to rise.
It's an enormous yield spread, easily traded through an instrument like ITLY, which invests in Italian bond futures. A very safe way to play is through ENI, the giant Italian energy company, whose stock has recently rolled over. Or you can play the iShares Italy ETF, traded under the symbol EWI.
For the complete article.
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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