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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)
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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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JPMorgan Boosts Outlook on CCC Corporate Bonds to Outperform |
Bloomberg - Dec. 14, 2010 - By John Detrixhe
JPMorgan Chase & Co. says the lowest ranked tier of debt is poised to outperform higher-quality junk bonds in 2011, changing a recommendation made in May.
Investors should be “overweight” the lowest tier of high- yield company credit next year amid a default rate for bonds of 1.5 percent and as the U.S. grows 3.75 percent in the first six- months of 2011 and 3.25 percent during the second half, wrote New York-based JPMorgan’s Peter Acciavatti. The bank last week boosted its outlook for the U.S. economy.
“A portfolio tiered toward lower-rated/higher yielding issuers will likely outperform,” said Acciavatti, ranked the leading U.S. high-yield analyst for the past eight years by Institutional Investor magazine.
JPMorgan is the biggest underwriter of high-yield bonds this year as companies issued a record $282.5 billion of the securities, according to data compiled by Bloomberg.
Bond buyers should “underweight” the highest tier of speculative-grade securities, Acciavatti said. Junk, or high- yield bonds, are rated below Baa3 by Moody’s Investors Service and lower than BBB- by Standard & Poor’s. The debt will return 9.8 percent next year, he said.
JPMorgan was overweight CCC debt at the beginning of 2010 and downgraded the tier in May, Acciavatti said in an e-mail.
The U.S. economy will grow 2.55 percent in 2011, according to the median forecast of economists surveyed by Bloomberg.
Speculative-grade bonds have returned 14.2 percent this year and yield 7.93 percent, or 554 basis points more than similar-maturity Treasuries, Bank of America Merrill Lynch index data show. Yields will decline to 7.4 percent and spreads will narrow to 515 basis points next year, JPMorgan said. A basis point is 0.01 percentage point.
For the complete article.
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