Tag Archives: Default
Puerto Rico Bonds: A Surging Force
After wreaking havoc on the municipal bond markets, Puerto Rico bonds have recently been adding value through their recovery. Bonds rallied after the latest debt restructuring deal was struck between the commonwealth and the bond holders. Additional supporting news, as mentioned in an article from Reuters,[1] was a federal court ruling affirming the budgetary powers…
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Asian Fixed Income: Chinese Corporates’ Spread Widened With Headline Risk
According to the S&P China Corporate Bond Index, the market value of Chinese corporate bonds was approximately CNY 26.4 trillion and represented 36% of the overall China bond market as of May 5, 2016. It is a robust expansion compared with the mere 6.7% exposure in 2007 (see Exhibit 1). The yield-to-maturity of the S&P…
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The Rieger Report: Defaulted municipal bonds return -1.5% year-to-date
As the Puerto Rico municipal bond saga continues it may be helpful to look at how other distressed municipal bonds have performed through Friday December 4th 2015. The S&P Municipal Bond Default Index tracks municipal bonds that have entered default by not paying all or part of the promised principal or interest when due. It currently tracks over…
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China Bond Defaults and Indexing the China Bond Market
The corporate bond default of Cloud Live Technology Group this week may be a bellwether moment for the Chinese bond markets. So far, Beijing is allowing the default and not stepping in with a bailout of any kind, and that may be a signal the markets. The recent Wall Street Journal article China Defaults Test…
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Defaulted Municipal Bonds Outperform!
Hard to fathom isn’t it! With 2013 municipal bond default and bankruptcy headlines casting a dark cloud over the municipal bond market, defaulted bonds actually have been up. The overall performance of defaulted municipal bonds during this time has been positive as the S&P Municipal Bond Defaulted Index has returned a positive 2.79% year to…
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What Me Worry
While the stock market was up sharply on Thursday and rose a bit more on Friday amidst rumors of some talks in Washington, not everyone thinks we’re out of the woods. In fact, other parts of the financial system are taking precautions in case the worst – a government default – happens. Hopefully both these…
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