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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
|
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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The Perils of Exchange Traded Funds |
Despite their retail-friendly image today, ETFs were originally designed as a product for professional fund managers and institutional investors, and their involvement is still high
AdvisorOne - Oct. 9, 2011 - BY VAUGHAN SCULLY, STANDARD & POOR'S
October is the month for ghouls and goblins and, therefore, makes a fitting time to examine the perils and frights that may or may not lay in wait for unsuspecting ETF investors.
Like the costume-clad candy collectors, many of the perceived threats facing ETF holders are merely phantoms that look scary but pose no real danger. That doesn’t mean, however, that there is no risk at all: There are important risks currently facing ETF investors, and new ones potentially coming in the future
Several recent developments gave ETF investors cause for concern. Kweku Adoboli, who worked for the Swiss bank UBS in London, became the latest “rogue trader” to be arrested after allegedly losing $2.3 billion through unauthorized trades made through his position as director of exchange traded funds.
This development precipitated several articles in the financial press warning of “the perils of ETFs” (Forbes) and finding “uncanny echoes of what took place with collateralized debt products last decade,” (Financial Times). To make matters worse, it soon came to light that Adoboli’s most recent role model – Society General’s Jerome Kerviel – was also an ETF trader.
Apparently, Adoboli’s job entailed working with institutional investors to create custom ETFs similar to what are known to U.S. investors as exchange traded notes, i.e. securities that do not represent ownership of physical assets but are instead the obligation of the issuer and thus confer counter-party risk.
For the complete article.
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| Stuff to look at |
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S&P Commentary and Newsletters: S&P
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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