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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
|
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
|
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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Sales Set to Slip to Seven-Year Low as Issuers Curb Spending: Muni Credit |
Bloomberg - Sept. 5, 2011 - By Michelle Kaske
Municipal bond sales this week and last are set to be the lowest for the period around Labor Day in seven years as issuers curb borrowing for infrastructure work.
States and cities will sell a combined $5 billion of long- term tax-exempt debt in the nine market days of Aug. 29 through Sept. 9, the least in the period since 2004, according to data compiled by Bloomberg.
Local and state governments have reduced payrolls by 671,000 positions since August 2008, and the U.S. failed to add any jobs in August, discouraging officials from borrowing for roads, bridges and other projects, said Matt Fabian, a managing director at Municipal Market Advisors, a research company in Concord, Massachusetts.
“When you have that kind of job loss, you have to assume that construction spending is not on the front burner,” Fabian said in a telephone interview. “It underscores the issuers’ austerity trends and the scarcity of new-issuance trends that we’ll be seeing for awhile.”
Shrinking revenue prompted 69 percent of U.S. cities to delay or cancel infrastructure spending in 2010, according to a National League of Cities survey of local finance officers.
Cities also lowered spending with personnel cuts, service reductions, changes to health-care benefits and public-safety curbs, the October report showed. Eighty percent of finance officers forecast their cities will be less able to meet needs in 2011 than in 2010, the survey said.
Yearly Issuance
Total municipal issuance so far this year has been $144.6 billion, according to data compiled by Bloomberg, $107.8 billion less than the same period in 2010, when federally subsidized Build America Bonds encouraged borrowing.
Tax-exempt yields will fall further below their 2011 lows after Treasuries rallied last week in response to the August jobs report, Fabian said. U.S. 30-year yields fell to the lowest since January 2009 as the monthly employment data were the weakest since September 2010.
For the complete article.
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Income Security Recommendation January 2013 Issue.
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