Tag Archives: kevin horan

A Quick Performance Check on U.S. Preferreds

There are only a couple weeks to go until the end of the year, and for a while now, the investing public has seen plenty of material supporting the benefits or risks of diversifying a portfolio through the use of preferred securities. This hybrid type product touts the benefits of high yields, steady income, and Read more […]

U.S. Yield Curve Moved by Europe

The U.S. Treasury yield curve, as represented by the S&P U.S. Treasury Bond Current Indices, ended June 14, 2017, tighter (lower in yield) than the previous day.  The importance of June 14 is that it was the day on which the U.S. Federal Reserve raised the target rate by 25 bps, from 1% to 1.25%.  The following Read more […]

Canadian Update

Canada’s economy has been accelerating due to increased consumer spending and a rebound in business investment.  Consumer spending driven by vehicle purchases and real estate investment has lifted the economy, along with improved business investment.  The economy and its growth trend now appear to be on a more secure path.  As of May 31, 2017, Read more […]

S&P U.S. High Quality Preferred Stock Index: A Venn of an Index

Similar to the Venn diagram in which the overlapping section of circles is the focus, the S&P U.S. High Quality Preferred Stock Index is designed to measure preferred securities that are constituents of both the fixed-rate and investment-grade preferred stock indices. Exhibit 1: S&P U.S. Preferred Stock Indices Hierarchy The weight of cumulative preferred stocks Read more […]

Indexing 101: S&P Canada Aggregate Bond Index

The S&P Canada Aggregate Bond Index offers an investable way to participate in a broad index that is designed to measure the performance of the Canadian market.  The index is made up of the following fixed income product groups (see Exhibit 1). Exhibit 1: S&P Canada Aggregate Bond Index and its Subindices The S&P Canada Read more […]

Master Class Prep: The Transparency of Canadian Indices

In anticipation of S&P Dow Jones Indices’ ETF Masterclass for Canadian Advisors on June 23, 2016: A Bright Future for Financial Advisory, it helps to revisit some of the company’s involvement in the country.  Our firm has always been committed to Canada, with an office on King Street West, and the company has always shown Read more […]

Eurozone Corporates Gets an ECB Kickstart

The impact of the ECB announcement on March 10, 2016, continues to play out in the bond markets.  The governing council decided to establish a new program (the Corporate Sector Purchase Program, or CSPP), which will purchase investment-grade, euro-denominated bonds issued by non-bank corporations established in the eurozone.  The goal of the action is to Read more […]

The Canadian Corporate Comeback

Yields of Canadian corporate investment-grade and high-yield bonds have been trending lower (up in price) since the beginning of March 2016.  Year-to-date, the S&P Canada Investment Grade Corporate Bond Index returned 1.59% while the S&P Canada High Yield Corporate Bond Index returned 4.54% as of April 30, 2016. The beginning of April saw yield increase Read more […]

Great Performance by High Yield, One Time or Early Signs?

As with the weather for the northern hemisphere, the U.S. high-yield market seems to be making a comeback.  The 0.54% return in February for the S&P U.S. Issued High Yield Corporate Bond Index appears to be the green shoot of return for high-yield bonds.  March 2016 followed the prior month’s gain with a blossom of Read more […]

Indexing the Brexit

The central bank of England has said that the European Union referendum in June 2016 is the most significant near-term domestic risk to the country’s financial stability.  Because of its separate currency, Britain is one of the countries that could disassociate itself most easily from the EU.  It is a long time until June, and Read more […]