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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)
|
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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Nordstrom’s Bonds Show Recession Resistance: Corporate Finance |
Bloomberg Businessweek - Oct. 7, 2011 - By Sapna Maheshwari and Joseph Ciolli
Bond investors awarded Nordstrom Inc. its lowest borrowing cost ever on a sale of 10-year bonds this week as the high-end U.S. department-store chain founded in 1901 shows that it’s able to withstand slowing economic growth.
The retailer sold $500 million of 4 percent senior unsecured notes Oct. 5 that yielded 2.12 percentage points above similar-maturity Treasuries, according to data compiled by Bloomberg. That compares with the 4.75 percent coupon on Seattle-based Nordstrom’s 10-year bond sale in April 2010 and the 6.25 percent rate it paid in November 2007.
Nordstrom is benefiting from spending by wealthier U.S. consumers who haven’t cut outlays even as financial markets fluctuate and economic growth slows. The retailer, which also operates private sale website HauteLook Inc. and discount Nordstrom Rack stores, reported a 10.7 percent increase in same- store sales for the five-week period ended Oct. 1 from a year ago, beating the average analyst estimate of 5.1 percent.
“They’re in the right place at the right time,” Richard Jaffe, a New York-based analyst at Stifel Nicolaus & Co., said in a telephone interview. “In this economic downturn, the rich folks haven’t been as impacted.”
Even as Europe’s debt crisis worsens and the U.S. unemployment rate holds above 9 percent, sales at retailers’ stores open at least a year may climb 3.5 percent in November and December, the International Council of Shopping Centers said in a forecast for about 30 chains it tracks. That’s faster than the 3 percent gain last year.
High-End Retailers
Luxury retailers will have the biggest increase, with a 7.5 percent gain, and wholesale clubs will improve 6 percent, the New York-based trade group said. Department stores will see sales rise 4 percent, and apparel chains and discounters 2.5 percent, the group said.
For the complete article.
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Income Security Recommendation January 2013 Issue.
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