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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
|
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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Wells Fargo Recommends High-Yield Corporates and Munis |
BARRON'S - Dec. 6, 2011 - By Michael Aneiro
Jim Kochan, chief fixed-income strategist at Wells Fargo Advantage Funds, says investors will need to get comfortable with a little risk in their portfolios in 2012 and not just approach fixed-income with a traditional safe-haven mindset. ”You need to be investing for income, not with this extraordinary focus on safety,” Kochan says. “Safety is too expensive right now.”
Kochan sees markets entering 2012 in a similar position to how they entered 2011, with a key difference being that Treasury bond yields are significantly lower than they were a year ago. “Tresuries will probably not do well in 2012,” he says, adding that short-term rates will also be “unreasonably low.”
Against that backdrop, Kochan recommends looking for income, and value, in municipal bonds and high-yield corporate bonds. Here are some of his thoughts on those categories, as well as a couple of others:
Muni bonds: “There are still serious fiscal problems for state and local governments, but they do not deal with them by defaulting on their debt,” Kochan says. While the muni market’s strong 2011 run may limit its upside in 2012, munis still offer compelling value compared to Treasuries, and even compared to high-grade corporate bonds, but investors may have to content themselves with coupon income rather than price appreciation unless they take on a bit of risk. “Value is in those areas where individual investors often fear to tread, like bonds rated single A and triple B…. But credit research is very important, and investors should look to funds. This is a good time for a fund manager to earn his fees.”
For the complete article.
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| Stuff to look at |
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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