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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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Lower-Rated High-Yield Bonds Looking Attractive |
MORNINGSTAR - Sept. 23, 2011 - By Liana Madura
Delaware's Kevin Loome says the recent market pullback has created opportunities in corporates and mid- to low-rated high-yield debt.
Kevin Loome is senior vice president, senior portfolio manager, and head of high-yield investments at Delaware Investments. He recently answered our questions on Delaware High Yield Opportunities (DHOAX) and explained to us where he is able to find yield in today's environment, how Standard & Poor's downgrade has affected the high-yield market, and whether companies have the wherewithal to surpass a potential new recession. He also explained how the prospects for inflation are subdued at the moment as well as opportunities he is finding in the gaming industry.
1. Where are you looking for yield in today's market? Would you rather move down the credit-quality spectrum or look at longer-dated maturities?
We have added yield at the margin by emphasizing the single-B rating category as well as the upper tier of the triple-C rating category using bottom-up credit research to identify a number of opportunities where we believe the credit ratings are stale. Specifically, we are finding smaller companies that might be slightly less liquid, yet have improved their financial profile and are experiencing improving fundamentals in their businesses.
As a rule, we do not actively manage the maturity profile of the portfolio as a way neither of adding yield nor as a way of trying to predict interest-rate moves. The maturity profile of our portfolio has a slightly lower duration than the benchmark because of our current bias toward the lower-rating categories. We do not currently see ample opportunities in the convertible-bond space or the bank-loan space as a way to add yield to the portfolio.
The best opportunities we are observing are in the mid- to lower-rated tiers of the high-yield bond market. Another place to look for added yield is in the emerging-markets corporate space, but we are not currently finding many good opportunities because of elevated valuations resulting from the large amounts of money flowing into the emerging-markets sovereign and corporate markets.
For the complete article.
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| Partner Market Place |
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| Stuff to look at |
Yield and Income Newsletter: A must have for income investors. subscribe NOW
S&P Commentary and Newsletters: S&P
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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