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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
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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
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3.13% |
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S&P National 0-5 Year Municipal Bond Index
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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)
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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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Scared to debt? Not in the municipal market |
REUTERS - July 29, 2011 - (Reporting by Karen Pierog; additional reporting by Michael Connor in Miami, Jim Christie in San Francisco and Chip Barnett and Caryn Trokie in New York; Editing by Leslie Adler)
(Reuters) - Even as states, cities and other issuers in the municipal bond market increasingly get caught up in the U.S. debt crisis, prices and yields for tax-exempt debt have been relatively steady.
Yields on top-rated 30-year munis have barely budged this month on Municipal Market Data's benchmark triple-A scale, starting at 4.36 percent on July 1 and ending Friday at 4.35 percent. At the same time, tensions over raising the federal debt ceiling have escalated along with warnings by major rating agencies that they may cut the United States' triple-A rating along with the top ratings on a slew of muni debt.
One factor for the market's stability is that July is a big month for investors to plow cash from muni coupon payments and bond redemptions back into the market, where supply is at an 11-year low.
"So there was a lot of money in July that helped keep yields relatively stable," said Alan Schankel, a managing director at Janney Capital Markets.
That is not to say the U.S. debt crisis has not or will not spook some investors.
Sales of muni bonds by individual investors picked up sharply this week as Washington's stand-off worsened, according to Chris Shayne, a senior market strategist at Bond Desk Group.
The number of retail sales measured by volume averaged 6,549 during the first four days of this week, including a peak of 7,345 on Tuesday, according to Shayne's preliminary analysis for a Bond Desk monthly report. The daily sales transactions by retail accounts averaged 5,940 in June.
"Retail's been selling," Shayne said. "It's plain as day, when you look at the data. But there's no panic selling. It's pretty orderly."
At the same time, retail buys have turned down, averaging 14,204 transactions on Monday, Tuesday, Wednesday and Thursday, versus a June daily average of 15,278.
For the complete article.
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Income Security Recommendation January 2013 Issue.
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