Tag Archives: Junk
The Price of Risk: Market Readies for $3billion Puerto Rico Junk Bond Sale
Puerto Rico general obligation bonds tracked in the S&P Municipal Bond Puerto Rico General Obligation Index have rallied 13.67% this year ahead of the planned $3 billion bond sale by Puerto Rico this coming Tuesday. Yields of bonds in the index have dropped 122bps to end March 7th 2014 at 7.12%. The success of the pending bond…
- Categories Fixed Income
- Other Tags
- Categories
- Fixed Income
- Other Tags
After The Fireworks
It was back to business in the U.S. after the July 4 holiday, which fell on a Thursday this year and made for a much needed four day weekend. The bond markets had a lot to look forward to this week as the Treasury auctioned a total of $66 billion of issuance in three, 10,…
- Categories Fixed Income
- Other Tags
Muni Bonds Suffering in June; Worst Month Since September 2008
Investment grade municipal bonds tracked in the S&P National AMT-Free Municipal Bond Index have seen a negative total return of 4.97% in June so far, the worst month since September 2008 when the index was down 5.13%. The yield (Yield to worst) on bonds in the index has risen by 95bps since the end of…
- Categories Fixed Income
- Other Tags
- Categories
- Fixed Income
- Other Tags
Bank loan tracked by the S&P/LSTA U.S. Leveraged Loan Index is down 0.34% so far in June while high yield bonds are down 1.51%.
U.S. Treasury Bonds: Treasury notes and bond as measured by the S&P/BGCantor US Treasury Bond Index started the year in negative territory, finally getting their head above water on a consistent basis around the beginning of April. The positive returns did not last long as they slipped into negative territory on May 13th and have…
- Categories Fixed Income
- Other Tags
- Categories
- Fixed Income
- Other Tags
S&P Dow Jones Fixed-Income Commentary: Mixed Signals as Rates Rise
Chairman Ben Bernanke has tried to be cautious in scripting a message to the markets, but recent communications out of the Federal Reserve have been mixed. With seven members of the Board representing 12 districts and past members all speaking to the press, the message can get convoluted at times. The planning and timing to…
- Categories Fixed Income
- Other Tags
- Categories
- Fixed Income
- Other Tags
Mid-Month Issuer Review of the S&P U.S. Issued High Yield Corporate Bond Index
The index is up 0.42% month-to-date. Here is a performance review of the top & bottom 10 issues within the index. Top 10 Issues May has been a good month for MBIA so far. The insurer settled a 2008 legal dispute with Bank of America concerning bad mortgage debt. The $1.7 billion settlement later led…
- Categories Fixed Income
- Other Tags
- Categories
- Fixed Income
- Other Tags