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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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TOBACCO BONDS – Sell Anything That Owns Them! |
Distressed Debt Securities, December 19, 2011
The December issue of Distressed Debt Securities Newsletter came out today, with some disturbing news for investors in municipal closed-end funds. “Income investors who hold any open or closed end municipal bond fund should closely examine the latest financial statements which detail the individual bond holdings in their portfolio. If they hold 10% or more in tobacco related bonds or 10% or more in land based or development district bonds, you should consider selling them – yesterday”, states the editor.
“Muni funds have been heavy buyers of such bonds because they juice up the overall return, but the day of reckoning is coming fast. Think of it as our equivalent of the European sovereign debt crisis except here there is a common cause, a shortfall in payments from the tobacco companies due to declining demand. Hence, almost all the bonds will be affected. The rating agencies have already begun a downgrading process, which is bound to drive prices lower.”
For more on this subject, get the current issue of Distressed Debt Securities Newsletter.
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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