In addition, important pilot projects which are aligned with cancer center mission and felt to be
at high yield for federal funding are supported.
Not exact matches
NEW YORK, May 1 - The dollar broke into positive territory
for the year and U.S. bond
yields inched
higher again on Tuesday as the recent rise in oil prices fueled expectations the Federal Reserve could flag more interest rate hikes
at its policy meeting this week.
So there's almost more concern
for locking in a long - term rate of income than there is
for just maybe catching a
higher yield at one point in the cycle in the front end.
A
high - powered U.S. delegation arrived in Beijing
for talks with Chinese officials aimed
at defusing the tensions, though analysts say they appear unlikely to
yield a breakthrough given the two sides» intensifying rivalry in strategic technologies, where China lags behind the U.S..
Looking
at the forward earnings
yield for S&P 500 stocks, BAML finds dispersion is the
highest since 2009, when the market was just starting to recover from the financial crisis.
It sold the bonds
at high enough
yields to receive orders
for three times that amount.
Investors have been selling Treasurys this month — pushing
yields higher — amid expectations
for rising inflation, which could prompt the Federal Reserve to tighten monetary policy
at a faster pace.
Frank Del Rio, president and CEO of Norwegian, cited four main reasons
for revising its guidance, including «continued weak demand from our core North American consumer
for European sailings
at a time when half of our fleet is deployed in the region, including eight of our
highest yielding ships.»
While New Zealand's official cash rate is already
at a record - low 2 % after the latest cut in August, it is still the
highest in the developed world — a major draw
for yield - hungry investors and a complication
for the central bank as a
higher kiwi further dampens imported - led inflation.
With rates
at near zero in the United States, and negative in Japan and Europe, the differential is a powerful lure
for carry trades, in which investors borrow
at ultra-low rates in currencies such as yen or sterling and buy
high -
yielding assets such as the kiwi.
High -
yield, or junk, issuance, also has been strong
at $ 224.3 billion, though it is nearly 9 percent off last year's total
for the same period, according to SIFMA.
The next key technical level
for the 10 - year
yield is 3.05 percent, which would put the
yield at its
highest level since 2011.
For example, if you invested in a five - year CD earning 2 percent annually, and the penalty is six months of interest if you withdraw early, you only need to stay in the CD for at least a year to match the 1 percent of a high - yield savings accou
For example, if you invested in a five - year CD earning 2 percent annually, and the penalty is six months of interest if you withdraw early, you only need to stay in the CD
for at least a year to match the 1 percent of a high - yield savings accou
for at least a year to match the 1 percent of a
high -
yield savings account.
These benefits would (i) largely go to developers and contractors
for infrastructure projects like new pipelines that would happen even without new incentives and so be highly regressive; (ii) raise costs by failing to reach the tax - free pension funds, sovereign wealth funds and international investors who are the most plausible sources of incremental infrastructure finance; (iii) not encourage
at all the
highest return maintenance projects like fixing potholes that do not
yield a pecuniary return
for investors; and (iv) by offering credits
at an unprecedented 82 percent rate, invite all kinds of tax shelter abuse.
Previously, Mr. Woolford worked
at CIBC World Markets, Morgan Stanley & Co and BT Securities where he was responsible
for originating, structuring and distributing
high yield and investment grade private placement securities.
«The extra reward you get in the form of
higher yields from stretching on maturity will come back to haunt you should inflation trend upwards faster than expected,» said financial advisor Manisha Thakor, director of wealth strategies
for women
at The BAM Alliance.
Elsewhere,
at the single country and asset class fund levels,
High Yield Bond Funds recorded their ninth consecutive outflow while Inflation Protected Bond Funds took in fresh money
for the 10th time in the 11 weeks, year - to - date.
Achievement of these goals was considered by the HRC as very challenging, even aggressive, given the expected modest economic growth
for 2007
for the financial services industry, the impact and duration of the on - going flat / inverted
yield curve (meaning short - term interest rates that are virtually equal to or exceed long - term interest rates, thus lowering profit margins
for financial services companies that borrow cash
at short - term rates and lend
at long - term rates), potentially
higher credit losses, fewer available
high - quality,
high -
yielding loans and investment opportunities, and a consumer shift from non-interest to interest - bearing deposits.
There are a multitude of reasons as to why this occurs but it's a powerful enough force that many investors have done quite well
for themselves over an investing lifetime by focusing on dividend stocks, specifically one of two strategies - dividend growth, which focuses on acquiring a diversified portfolio of companies that have raised their dividends
at rates considerably above average and
high dividend
yield, which focuses on stocks that offer significantly above - average dividend
yields as measured by the dividend rate compared to the stock market price.
European government bond and U.S. 10 - year Treasury
yields are trading
at their
highest levels in more than two months and the U.S. 30 - year Treasury bond
yield reached a
high for the year on Tuesday.
In other words,
at a certain level
higher bond
yields create real competition
for stocks, particularly dividend stocks, and put downward pressure on multiples.
With market volatility hitting multi-decade lows, junk bond
yields also
at record lows, the median price / revenue ratio of S&P 500 constituents
at a record
high well - beyond 2000 levels, and the most strenuously overvalued, overbought, overbullish syndromes we define, I'm increasingly concerned about the potential
for an abrupt «air pocket» in the prices of risky assets that could attend even a modest upward shift in risk premiums.
Prior to Aozora Bank, he was
at Morgan Stanley
for ten years, from 1994 to 2004, most recently as Managing Director and head of
high -
yield and distressed principal investing in Japan and non-Japan Asia.
For example, while
high yield spreads are considerably lower than they were
at the January market bottom, they are approximately 200 basis points (2 percent) wider than they were two years ago, as Bloomberg data shows.
These economies are growing
at a faster pace than the developed world, which can mean bigger profit possibilities
for their companies and
higher yields for their bonds.
Christina Padgett, head of leveraged finance
at Moody's Investors Service, said liquidity concerns are not a major problem
for the
high -
yield portion of the market now, but there are challenges
for the future.
This is a sneak peak
at all the
high -
yield dividend stocks that we are currently evaluating
for possible additions to our «Best Dividend Stocks» list.
These benefits would (i) largely go to developers and contractors
for infrastructure projects like new pipelines that would happen even without new incentives and so be highly regressive; (ii) raise costs by failing to reach the tax - free pension funds, sovereign wealth funds and international investors that are the most plausible sources of incremental infrastructure finance; (iii) not encourage
at all the
highest return maintenance projects like fixing potholes that do not
yield a pecuniary return
for investors; and (iv) by offering credits
at an unprecedented 82 per cent rate, invite all kinds of tax - shelter abuse.
You already know that I do not chase
high yield fantasies but gravitate to value, sustainable
yield and stability and
for now,
at these depressed levels the Canadian banks seem to fit that bill.
At a time when demand for income generating assets is at an all - time high, the yields on income generating assets are at, or near, all - time low
At a time when demand
for income generating assets is
at an all - time high, the yields on income generating assets are at, or near, all - time low
at an all - time
high, the
yields on income generating assets are
at, or near, all - time low
at, or near, all - time lows.
For example, it does not include euro bonds («reverse Yankees») that are hot in Europe, where junk bond
yields are
at a ludicrously low 2.35 % on average, and the
high - grade
yield is just above zero.
You may search
for and purchase
high yield bonds
at Fidelity.com, where you can choose the credit rating levels appropriate
for your portfolio and risk tolerance.
You can invest in
higher yielding properties
at much lower valuations
for $ 5,000 — $ 10,000 minimums versus coming up with a $ 200,000 + downpayment and taking on $ 1,000,000 in mortgage debt
for the median SF or NYC home price.
December was another solid month
for European
high -
yield debt, with Barclays's benchmark cash index tightening by 40 basis points, ending the year
at a new post-crisis low.
However we do think US monetary policy will continue to be supportive of
higher gold prices, with the Fed keeping rates
at zero and the TIPS
yielding negative rates
for multiple maturities (Please see our previous article: The Key Relationship between US Real Rates and Gold Prices).
Wall Street looks
at high -
yield bonds as a leading indicator
for stocks.
The benchmark 10 - yr
yield,
for instance, finished
at 2.95 % on Thursday — which is about eight basis points below the more than four - year
high it hit last week.
After providing double - digit returns
for many years, REITs are now well off the previous
highs and trade
at an estimated 15 % discount to net asset value (Source: TD Securities) and
yielding an average of 7 %, a spread of 2.75 % over 10 - year bonds.
For borrowers, leveraged loans offer two significant advantages over
high -
yield bonds: They are cheaper, by about 100 basis points on average
at the moment.
The flip side of that
high yield is that the payout ratio is
at 96 %, leaving not much room
for (near) future dividend growth.
To screen
for «dividend growth» shares that may have lower starting
yields but have more potential to grow future payouts
at high rates, we simply need to make a few adjustments to our screening parameters.
This is evident in a number of developments, including: increased demand
for higher - risk assets; the increase in «carry trades» — a form of gearing where funds are borrowed short - term
at low interest rates and invested in
higher -
yielding assets, often in other countries; growth in alternative investment vehicles such as hedge funds; and growth in alternative investment strategies such as selling embedded options (see Box A).
As usual, I don't place too much emphasis on this sort of forecast, but to the extent that I make any comments
at all about the outlook
for 2006, the bottom line is this: 1) we can't rule out modest potential
for stock appreciation, which would require the maintenance or expansion of already
high price / peak earnings multiples; 2) we also should recognize an uncomfortably large potential
for market losses, particularly given that the current bull market has now outlived the median and average bull, yet
at higher valuations than most bulls have achieved, a flat
yield curve with rising interest rate pressures, an extended period of internal divergence as measured by breadth and other market action, and complacency
at best and excessive bullishness
at worst, as measured by various sentiment indicators; 3) there is a moderate but still not compelling risk of an oncoming recession, which would become more of a factor if we observe a substantial widening of credit spreads and weakness in the ISM Purchasing Managers Index in the months ahead, and; 4) there remains substantial potential
for U.S. dollar weakness coupled with «unexpectedly» persistent inflation pressures, particularly if we do observe economic weakness.
The advance would persist, even intensify, as the afternoon moved further along, with strong earnings enabling traders to look past the recently
higher yields,
at least
for one day.
But I am concerned that late - cycle entrants into risk assets like stocks and
high -
yield bonds are taking a leap of faith
at a time when there is less room
for markets to move up and growing risks of them falling back.
It doesn't mean that we won't experience inflation or
higher bond
yields at times, but we're likely to live in a low -
yield environment
for a very long while.
At the end of the day,
high -
yield corporate debt generates returns that are highly correlated to the returns of stocks, and it's
for that reason we regard them as a kind of «equity light» or «decaf equity.»
With
yields having been so low
for so long, bonds are suddenly providing some competition with equities
at these
higher yields levels.
GCE tracks an index of US - listed closed - end funds, aiming
for exposure to a
high -
yield portfolio of closed - end funds with big asset bases and
high liquidity, and which trade
at attractive discounts to NAV.
The month of May closed on a
high note
for bonds as the drop in
yields saw the S&P / BGCantor Current 10 Year U.S. Treasury Index closed
at a
yield of 2.47 %.