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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
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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)
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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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Capitalize On The Muni Bond Nightmare And Don’t Get Fooled Again |
Forbes.com - Nov. 22, 2010 - by MARILYN COHEN
Like Dorothy in the Wizard of Oz clicking her ruby red slippers together and saying, “There’s no place like home, there’s no place like home,” last week municipal bond investors were clicking their keyboards and chanting, “There’s no place like cash, there’s no place like cash.”
This last crash and burn week took municipal bond funds down badly. Everyone sold: Open end, closed-end, ETFs, bullet shares, you name it. Indeed, the sell-off amidst the $15.5 billion onslaught of new issuance was a slaughter.
Just as the news media focused on the bond vigilantes taking down Ireland, the retail muni bond vigilantes took down the muni market. States, cities and counties that can barely pay their bills issued tax free and taxable munis with abandon. Earth to the muni gods, “The market got way overdone. Yields were too low.”
Yes, bond fund investors exacerbated the problem by piling in and out of muni funds at the same time. But I was amused over the pre-Thanksgiving weekend, reading all the quotes from municipal bond fund managers saying that muni buyers are stepping up their buying. That’s not exactly true. Last week, investors were net sellers. Don’t believe the bond fund managers’ self-serving claims as quoted in the financial media. What are they going to say, “We got annihilated?”
Special Offer: Municipal bond yields are shrinking fast. Which ones are the best buys in your state? Which ones will break your heart and finances? Click here for updated rankings and recommendations in Forbes Tax Advantaged Investor.
Watch to see if there is selling follow-through. You want blood in the streets before you buy. This time around don’t go back into municipal bond funds. Buy individual munis having three to eight years to maturity. Don’t be part of the stampede out of municipal bonds again.
Instead, buy general obligation bonds from great credit worthy states and cities like Texas, City of Houston, Dallas, Virginia State, Richmond, Tennessee and Maryland.
Once burned is a learning experience. Twice burned and it’s shame on you for not learning the first lesson.
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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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