Not exact matches
I sent out to some people last Wednesday why I thought the CDS market would outperform ETF's, and that is still my view, and has a lot to do with the bonds that make
up the high
yield index and their rate risk exposure for some, and horrible convexity for others.
Western allies press Trump to maintain nuclear deal with Iran: Reuters US intelligence monitors Iranian cargo shipments into Syria: CNN A trade war is a major risk for China's debt - ridden economy: CNBC Federal judge orders gov» t must accept new DACA immigration applications: WaPo Unification of Koreas still unlikely as leaders prepare to meet: Reuters US Consumer Confidence
Index rebounded in April after March decline: CB New home sales in US increased to 4 - month high in March: MarketWatch Richmond Fed Mfg
Index turns negative for first time since 2016: Bond Buyer S&P Case - Shiller Home Price
Index surged in Feb,
up 6.3 % y - o - y: CNBC Federal Housing Finance Agency: US house prices continued to rise in Feb: HW Corp bonds with lowest investment - grade rating look vulnerable: Bloomberg 10 - year Treasury
yield reaches 3.0 % for first time since 2014: CNN Money
The strategy ended the week
up 2.41 % YTD, or 268 basis points ahead of the high
yield index and 197 basis points ahead of the S&P 500.
As I built my portfolio, I set it
up to work as follows: Total stock market, small cap, international
index, emerging market, high -
yield tax exempt, long - term tax exempt, intermediate - term tax exempt and short - term tax exempt.
The very next day, Labor reported that the core producer price
index rose 0.4 % for the month and 2.2 % year - on - year, which pushed
up the
yield on the 10 - year another basis point, to 2.92 %.
We expect high
yield funds could be most affected by events in Puerto Rico, as commonwealth debt makes up some 28 percent of the S&P High Yield Municipal I
yield funds could be most affected by events in Puerto Rico, as commonwealth debt makes
up some 28 percent of the S&P High
Yield Municipal I
Yield Municipal
Index.
Meanwhile, emerging market bonds that make
up the J.P. Morgan EMBI Global Core
Index, currently offer similar
yields and may benefit from global reflationary trends despite the potential challenge of higher valuations and a rising U.S dollar in the short term.
The interventionist strategy has
yielded results, at least in the short term, with the Shanghai Composite
Index up about 11 percent since Wednesday.
Just about any dividend
index fund or ETF you look at, whether it's the Vanguard High
Yield, Vanguard Dividend Appreciation, or anything else, you'll find that in some years the dividends go
up, and in some years they go down a bit.
The chart below shows the average 12 - month returns in some of the industries that make
up the MSCI World
Index - including Materials, Energy, Industrials, Consumer Discretionary, and Consumer Staples - subsequent to different shapes of the global
yield curve.
Investment grade bonds as measured by the S&P U.S. Issued Investment Grade Corporate Bond
Index turned it up a notch as the index's yield tightened by 9 basis points on the week to a 2.
Index turned it
up a notch as the
index's yield tightened by 9 basis points on the week to a 2.
index's
yield tightened by 9 basis points on the week to a 2.76 %.
The S&P Indonesia Sovereign Bond
Index was
up 6.18 % YTD and 11.90 % over the one - year period, while its
yield also came down 72 bps from 7.88 % in December 2016, see exhibit 1.
I teamed it
up with DVY assuming a current
yield of 3.97 % and a dividend growth rate of 5.5 % nominal, the same as for the S&P 500
index.
Thursday's jump in Treasury
yields was evident in corporates as well with the
index giving
up 0.37 % in one day.
One of the biggest proponents of
indexing, Rick Ferri, has a post
up talking about why for muni bonds, high
yield bonds and equity value it may make sense to move beyond
index funds.
WisdomTree
ups the ante quite a bit with a 6.5 % dividend
yield on Emerging Market
Index Fund (DEM).
The S&P / LSTA U.S. Leveraged Loan 100
Index yield stepped
up a week and a half later, rising on May 23rd by 10 bps from 4.98 % to 5.08 %.
I need to know whether I should buy the TD e-Series mutual funds in order to boost my returns, specifically a friend, who still believes in the US Recovery, recommended I buy the TD US
Index which has a low MER 0.50 % and start setting
up automatic monthly contributions and / or should I but the Vanguard Dividend Appreciation ETF (VIG) which costs only 0.24 % annually or even the Vanguard High Dividend
Yield ETF (VYM) cost here).20 % annually.
The
yield of the S&P Japan Corporate Bond
Index held
up relatively well; it only tightened 16 bps YTD as of Sept. 26, 2016, to 0.22 %.
Like Preferreds, the difference in
yield between the S&P U.S. Issued Investment Grade Corporate Bond Index and the S&P U.S. Issued High Yield Corporate Bond Index is 2.97 % (5.87 % vs 2.90 %), up from a 1.97 % back at the end of
yield between the S&P U.S. Issued Investment Grade Corporate Bond
Index and the S&P U.S. Issued High
Yield Corporate Bond Index is 2.97 % (5.87 % vs 2.90 %), up from a 1.97 % back at the end of
Yield Corporate Bond
Index is 2.97 % (5.87 % vs 2.90 %),
up from a 1.97 % back at the end of June.
Energy makes
up 7 % of the S&P 500 Investment Grade Corporate Bond
Index and 10 % of the S&P 500 High
Yield Corporate Bond
Index.
The weighted average
yield of the S&P Municipal Bond New Jersey General Obligation
Index ended at 1.73 %
up from 1.52 %.
This means the government is financing itself at close to zero cost for its short term borrowing and, further out on the curve, the cost of financing does not go
up by much; as the
yield - to - worst on the S&P / BGCantor 7 - 10 Year U.S. Treasury Bond
Index is now at 1.48 %.
By comparison, the S&P U.S. Issued High
Yield Corporate Bond
Index has a duration of over 4.8 years and is
up 3.6 % year to date.
We expect high
yield funds could be most affected by events in Puerto Rico, as commonwealth debt makes up some 28 percent of the S&P High Yield Municipal I
yield funds could be most affected by events in Puerto Rico, as commonwealth debt makes
up some 28 percent of the S&P High
Yield Municipal I
Yield Municipal
Index.
From a sector perspective, energy, materials and financials make
up more than a third of the MSCI Europe
Index.2 Many of these companies tend do well when inflation is rising and bond
yields are rising because typically inflation nudges
up commodity prices and financial companies tend to profit when the
yield curve steepens.
Municipal high
yields bonds tracked in the S&P Municipal Bond High
Yield Index have risen over 2.1 % year - to - date, the same index excluding Puerto Rico bonds is up over 3 % year - to -
Index have risen over 2.1 % year - to - date, the same
index excluding Puerto Rico bonds is up over 3 % year - to -
index excluding Puerto Rico bonds is
up over 3 % year - to - date.
Index A published interest rate against which lenders measure the difference between the current interest rate on an adjustable rate mortgage and that earned by other investments (such as one, three, and five year U.S. Treasury security
yields, the monthly average interest rate on loans closed by savings and loan institutions, and the monthly average costs - of - funds incurred by savings and loans), which is then used to adjust the interest rate on an adjustable mortgage
up or down.
The
yield - to - maturity of the
index was 4.96 % on the same date,
up 15 basis points from the beginning of the month's 4.81 %.
Green project bonds have also outpaced high
yield corporates by nearly 95 %, as the S&P U.S. Issued Corporate Bonds
Index is
up 4.56 % YTD.
Depending on the
index you use, high
yield is
up another 6 % to 7 % in 2017 through October.
We believe both short - and long - term bond
yields could move
up, and we plan to maintain an overweight position in corporate bonds compared to the Bloomberg Barclays Capital Intermediate U.S. Government / Credit
Index, as they tend to outperform Treasuries during periods of economic expansion.
Passive investing may sound like a good idea, but will come with pitfalls... if you pick the wrong
index fund and it only goes
up a few % each year, then with inflation / taxes / fees you probably are better off just putting your money in a high -
yield savings account.
Investment - grade corporate bonds, as measured by the S&P U.S. Issued Investment Grade Corporate Bond
Index, are
up 0.09 % for the month, while lower quality high -
yield bonds represented by the S&P U.S. Issued High Yield Corporate Bond Index are up 0.7 % on the m
yield bonds represented by the S&P U.S. Issued High
Yield Corporate Bond Index are up 0.7 % on the m
Yield Corporate Bond
Index are
up 0.7 % on the month.
The S&P Municipal Bond High
Yield Index returned it's third highest return in 16 years ending
up 14.6 %.
High
Yield, as measured by the S&P U.S. Issued High
Yield Corporate Bond
Index, on the other hand was at the same -0.11 % a day prior on Feb 4th but has been able to lift itself
up to the current 0.76 % MTD and is returning 1.53 % year - to - date.
Last week high
yield as measured by the S&P U.S. Issued High Yield Corporate Bond Index gave up very little ground and continues to return 5.51 % year - to -
yield as measured by the S&P U.S. Issued High
Yield Corporate Bond Index gave up very little ground and continues to return 5.51 % year - to -
Yield Corporate Bond
Index gave
up very little ground and continues to return 5.51 % year - to - date.
High
yield corporate bonds tracked in the S&P U.S. Issued High Yield Bond Index have returned just under 5 % year to date but lost ground the past several days as fund outflows weigh on the market driving prices down and the weighted average yield (yield to worst) up by 22bps since last week to end at 4.
yield corporate bonds tracked in the S&P U.S. Issued High
Yield Bond Index have returned just under 5 % year to date but lost ground the past several days as fund outflows weigh on the market driving prices down and the weighted average yield (yield to worst) up by 22bps since last week to end at 4.
Yield Bond
Index have returned just under 5 % year to date but lost ground the past several days as fund outflows weigh on the market driving prices down and the weighted average
yield (yield to worst) up by 22bps since last week to end at 4.
yield (
yield to worst) up by 22bps since last week to end at 4.
yield to worst)
up by 22bps since last week to end at 4.88 %.
The
yield on the Bloomberg
index of triple - A-rated 10 - year muni issues was 2.5 % recently,
up from 1.8 % last September.
The 5 year range of the municipal bond curve is keeping
up with the overall market as the 5 year S&P AMT - Free Muni Series 2018
Index has returned 1.14 %, while longer municipal bonds in the S&P Municipal Bond 20 + year
Index have recorded a total return of 2.14 % year to date with
yields remaining steady over the course of the week.
Tax - exempt investment grade municipal bonds tracked in the S&P National AMT - Free Municipal Bond
Index up 1.24 % year - to - date and high
yield municipal bonds Read more -LSB-...]
Though the
index's
yield tightened by 33bps to 4.37 %, it offers
yield pick -
up over the onshore bond market.
This is compared to
yields on MBonos (nominal bonds), as measured by the S&P / Valmer Mexico Sovereign Bond
Index, which moved up only 32 bps, with the index returning 4.3 %, buoyed by its coupon c
Index, which moved
up only 32 bps, with the
index returning 4.3 %, buoyed by its coupon c
index returning 4.3 %, buoyed by its coupon carry.
IBM's falling stock price in response to volatile earnings, in contrast, has pushed its dividend
yield up to 4 %, among the highest on the Dow Jones
index.
One bright light is the municipal high
yield bond market as the S&P Municipal Bond High Yield Index is up 0.82 % year - to - date helped by positive performance in May by Puerto Rico bonds and a recovery over 3.2 % of the Tobacco Settlement bond se
yield bond market as the S&P Municipal Bond High
Yield Index is up 0.82 % year - to - date helped by positive performance in May by Puerto Rico bonds and a recovery over 3.2 % of the Tobacco Settlement bond se
Yield Index is
up 0.82 % year - to - date helped by positive performance in May by Puerto Rico bonds and a recovery over 3.2 % of the Tobacco Settlement bond sector.
Senior loans, the secured counterpart to high
yield bonds, had returned 0.59 %
up to April 19, 2015 and 2.45 % YTD as measured by the S&P / LSTA U.S. Leveraged Loan 100
Index.
This brings the
yield of the
index back
up to levels that have not been seen since January 2014.
Shorter duration, high -
yield bonds, such as those captured in the S&P 0 - 3 Year High Yield Corporate Bond Index, are up 0.09 % MTD and 1.85 % YTD (as of March 13, 2015), as investors move down the curve in order to reduce rate volatility and term risk expo
yield bonds, such as those captured in the S&P 0 - 3 Year High
Yield Corporate Bond Index, are up 0.09 % MTD and 1.85 % YTD (as of March 13, 2015), as investors move down the curve in order to reduce rate volatility and term risk expo
Yield Corporate Bond
Index, are
up 0.09 % MTD and 1.85 % YTD (as of March 13, 2015), as investors move down the curve in order to reduce rate volatility and term risk exposure.
The high -
yield bond market, as measured by the S&P U.S. Issued High Yield Corporate Bond Index, had recently been clawing its way up in performance for
yield bond market, as measured by the S&P U.S. Issued High
Yield Corporate Bond Index, had recently been clawing its way up in performance for
Yield Corporate Bond
Index, had recently been clawing its way
up in performance for 2015.
Up until September 18,
yields on the S&P / BGCantor Current 10 Year U.S. Treasury Bond
Index crept high enough to ensure a loss of -1.21 % for September.