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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
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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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| 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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Yield Curve Yields Growth, Part 2 |
Seeking Alpha - Oct. 21, 2011 - By Calafia Beach Pundit
Further to my post of yesterday, here are some more measures of the shape of the yield curve. We know the Fed is trying to manipulate the bond market, first by QE, and second by Operation Twist. So it's possible the yield curve could be sending false signals. But I am of the belief that while the Fed can absolutely control short-term interest rates (it's policy target is the overnight rate), it has very little control over the yield curve from 5-10 years and out. That's because longer term interest rates are determined by inflation fundamentals and market expectations of what the Fed will do in the future.
Today, we know the Fed can't stay at zero forever; at some point the economy will pick up and the Fed will begin increasing short-term rates. Looking at the forward Treasury curve, we see that the market expects 3-mo. T-bill rates to rise from zero today to 0.71% in two years. 2-yr Treasury yields are expected to rise from 0.3% today to 1.3% in two years. 5-yr Treasury yields are expected to rise from 1.1% today to to 2.2%. In short, a positively-sloped yield curve is driven by the expectation that short-term rates will rise in the future. That is always the case when the yield curve is positively-sloped.
Fro the complete article and graphs.
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| Stuff to look at |
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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