Tag Archives: S&P 500 Bond Index

Rieger Report: A Tale of Two Bond Markets

The U.S. corporate and municipal bond markets seem to be neck and neck in total return performance for the first three quarters of 2017.  However, there are distinct characteristics of both of these markets that have played a key role and could cause the performance to vary significantly going forward. The intent of this blog post Read more […]

Under Armour Falters, but Consumer Discretionary Stays Positive

The sports apparel and footwear company Under Armour recently experienced a highly publicized loss of stock value, based on a couple of missteps.  The first misstep was falling short of Wall Street’s earning expectations, which caused multiple brokerage firms to downgrade their stock recommendations.  The second was inaccurate forecasting of the company’s revenue; it only Read more […]

Try a TIPS Mixer in Your Equities Cocktail

As product manager of the S&P STRIDE Indices, I sometimes find myself extolling the virtues of Treasury Inflation-Protected Securities (TIPS), which I believe are an underappreciated asset class.  When inflation is relatively tame, people often ask why they should think about TIPS.  The answer is that TIPS don’t hedge expected inflation—that’s already priced in.  TIPS Read more […]

Rieger Report: Energy Sector Helps Drive Market

The recent oil price rally has pushed the energy sector upward in both the equity and bond markets. In the second quarter so far, the S&P 500 Energy Index (equity) has returned over 9.1% in total return and the S&P 500 Energy Corporate Bond Index has returned over 7.3%.  Meanwhile, the broader indices have seen more modest returns: the S&P 500 Bond Index (the debt 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 […]

The Rieger Report: Junk Bond Risk Realized as Credit Spreads Jump

The relentless drive for yield has caught up with U.S. high yield bond investors.  Junk bond holders have been beaten up by the one risk they did not want to see:  credit spreads widening.  High yield bonds have seen compressed yields for some time as the relentless drive for yield had shifted flows toward yield producing Read more […]

Looking for Incremental Yield

Over the past few years, corporations have taken advantage of the low interest rate environment and have thereby increased the size of the corporate bond market considerably.  Many of these bonds, however, are subject to the effects of rising interest rates.  In fact, anticipation of this change in interest rates alone has already started to Read more […]

The Volatility of Bond Markets

China’s onshore bond market recorded strong growth in the first 11 months of 2015 and its total return has increased 6.98% year-to-date (YTD), as measured by the S&P China Bond Index.  The S&P China Composite Select Bond Index, an investable index that tracks the performance of Chinese sovereign bonds, agency bonds and bonds issued by Read more […]

Energy Stocks and Bonds Say Oil May Have Bottomed

Last week, the S&P GSCI Crude Oil gained 9.7% in one of its best weeks (24/1501) in history since 1987. It was the second best week in 2015, following its gain of 11.8% in the last week of Aug. Historically, with the exception of the bottom in 1988, there have been greater than 2 weeks of spikes bigger than Read more […]

Asian Fixed Income: Chinese Bonds Rose After China Rate Cut

China announced another policy rate and RRR cut this week. The one-year deposit and lending rates were lowered by 25bps to 1.75% and 4.65%, while RRR is reduced by 50bps to 18%. These measures aim to offset increased capital outflow and stabilize the economy. While investors should remain cautious with market volatilities, certain Chinese assets with Read more […]