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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
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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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| 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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Drunken, Rowdy Bond Market Is About to Be Ill: Mark Gilbert |
Bloomberg - Sept. 8, 2010 - by Mark Gilbert
Like a drunk at a party, the bond market is starting to bump into tables, telling off-color jokes, talking too loudly and spilling drinks. The smart guests will steer clear before he starts screaming at his shoes and wanders off to pray to the porcelain.
Did you think a 950 billion-euro ($1.2 trillion) emergency backstop cobbled together by the European Union and the International Monetary Fund in May was the answer to Europe’s debt crisis? Were you expecting central banks to turn off the money taps as normal funding service resumed in the banking industry? Had you hoped the heavy hand of government would only briefly slide its interfering digits into the folds of finance?
Ireland, which proudly brewed its own flavor of austerity medicine and swallowed the potion without demanding so much as a spoonful of sugar, now pays a record 3.8 percentage points more than Germany to borrow 10-year money. Spreads on Greek debt, which triggered the crisis by revealing that it forged its euro- membership qualifications and lied ever since, have surged to 9.5 points, a whisker away from a record.
The U.S. and Germany, meantime, are enjoying the cheapest borrowing costs they have ever had. That schizophrenia follows a pattern seen before during this credit crisis, with an endgame that is all too predictable.
First, the allegedly good banks were distinguished from the undoubtedly toxic ones -- until they all turned out to be as bad as each other. Next, the financial system was perceived to have been rescued by governments -- until the cold sting of logic pointed out that risk was being transferred, not dissolved.
Brothel Raid
Now, the bond market is differentiating between fiscally irresponsible governments and those ostensibly big enough to weather the storm. That seems to be missing the point -- when the brothel gets raided, even the piano player gets arrested. All governments are tainted with the same stain of indebtedness and profligacy, especially should a slump back into recession undermine their debt-paying abilities.
You may be agnostic about U.S. President Barack Obama’s politics, and the desirability of Keynesian stimulus packages. Still, lending 10-year money to a government for a yield of 2.65 percent when the administration is proposing to spend $50 billion on roads, railways and runways to goose the economy doesn’t seem like the most prudent of investments.
30-Year Risk
The corporate-bond market looks even more like an accident waiting to happen. Investors decided to lend $400 million for 30 years to Stanley Black & Decker Inc. this month. They will be paid an interest rate of 5.2 percent by the toolmaker, which has total debts of $4.5 billion in the form of bonds and loans, according to Bloomberg data.
For the complete article visit Bloomberg.com
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| Stuff to look at |
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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