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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
|
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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Illinois Leads A+ Debt Poised to Rally on Widening Yield Gap: Muni Credit |
Bloomberg - Sept. 19, 2011 - By Michelle Kaske
Municipal bonds rated A+, four levels below the highest grade, are yielding the most compared with top-ranked tax-exempts since July and may rally later this year as demand for riskier debt grows, according to strategists at JPMorgan Chase & Co. and Morgan Stanley Smith Barney.
Yields on the 10-year debt rated A+ were 3.25 percent yesterday, about 1.07 percentage point more than top-grade municipal bonds, according to Bloomberg Fair Value indexes. The spread reached 1.11 percentage points on July 5, the widest since at least 1994, when the Bloomberg data begins.
Borrowers rated A+ by Standard & Poor’s include Illinois, where Democratic Governor Pat Quinn said Sept. 8 that he may have to cut more than 1,900 government workers because the $33.2 billion general-fund budget approved by legislators won’t cover the cost of state services through the end of the current fiscal year. The cost of insuring Illinois debt for 10 years has risen 56 percent since May 20, according to credit-default prices, from CMA, which is owned by CME Group Inc. and compiles prices quoted by dealers in the privately negotiated market.
“The low-yield environment motivates investors to move down the credit curve to achieve returns that they had typically achieved in higher interest-rate regimes,” Peter DeGroot, head of municipal research at JPMorgan said in a telephone interview.
Spreads between AAA and A+ securities may narrow “through year-end,” DeGroot said. An Illinois bond maturing in January 2015 traded at an average yield of 1.28 percent on Sept. 7, compared with a 0.56 percent rate on typical top-ranked debt due in four years, according to BVAL pricing data.
Debt sold by Illinois issuers has returned 3.67 percent in the past three months, the best among states tracked by S&P Municipal Bond Indices.
For the complete article.
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| Stuff to look at |
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Income Security Recommendation January 2013 Issue.
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