Not exact matches
Russ Koesterich, BlackRock's chief investment strategist, recommended emerging
market sovereign
bonds because of the relatively low debt of the countries
issuing them.
He shares the consensus view that the 30 - year bull
market in
bonds is now spent and recommends buying floating - rate notes
issued by corporations that reset their coupon according to
market rates every three or six months.
Last fall, the B.C. government also became the first foreign government to
issue bonds into the Chinese RMB
market,
issuing a one - year - term
bond that raised about $ 428 million Canadian.
Tighter regulation on
bond markets has crimped appetite for
bonds in the region, he said, noting that subscriptions for three government
bonds issued at the end of last year lagged expectations.
The office would also police debt
markets and oversee institutional traders, high - frequency traders, new
bond and equity
issues and disclosure relationships between investment advisers and their clients.
The
issue of
bond market liquidity has been a consistent theme over the past years or so with financial executives such as JP Morgan CEO Jamie Dimon, Blackstone CEO Steve Schwarzman, and Oaktree Capital's Howard Marks weighing in on the
issue and generally pointing the finger at a lack of liquidity exasperating moves in financial
markets.
«The pricing and performance of the new
issues this week indicates the demand for
bonds has remained strong despite the broader
market weakness,» Yuriy Shchuchinov, credit strategist at BofAML, said in a note to clients.
In the past year, Canadian securities regulators have raised the bar for exempt -
market dealers, requiring them to be registered and
bonded,
issue an offering memorandum with every deal and provide audited financial statements to investors annually, says Sand, who supports this new layer of assurance.
The high - grade
bond market is springing back to life as corporations race to
issue new debt and get out in front of a possible Fed interest rate hike.
The secondary
market is composed of
bonds that were
issued in the past and may be traded until redeemed by the issuer.
a government, corporation, municipality, or agency that has
issued a security (e.g., a
bond) in order to raise capital or to repay other debt; the issuer goes to an underwriter to get their securities sold in the new
issue market; for certificates of deposit (CDs), this is the bank that has
issued the CD; in the case of fixed income securities, the issuer of the security is the primary determinant of the security's characteristics (e.g., coupon interest rate, maturity, call features, etc..)
Fidelity offers investors the opportunity to participate in both the new
issue and secondary
bond markets.
One reason for looking at junk
bonds is that the firms that
issue junk
bonds are closer on the risk continuum to a large mass of firms that are too small and too weak to
issue bonds at all, and that rely on banks or the informal capital
market for funds.
New
issues have a significant presence in the
bond market as issuers are constantly entering the
market to «roll» their existing debt as well as create new debt.
Fidelity makes it easy for you to view and select from our large inventory of new
issue and secondary
market bonds and CDs to meet your needs.
The latest edition of the Federal Reserve Bank of New York's Current
Issues in Economics and Finance is available: What Moves Sovereign
Bond Markets?
so now the
issue is whether the
bond market (or macro hedge funds) eased too much thinking the Fed would choke off liquidity and now is staring at still a weaker dollar and high commodity prices indicating an elevated level of excess liquidity.
Included in the EMBI Global are U.S. - dollar - denominated Brady
bonds, Eurobonds, traded loans, and local -
market debt instruments
issued by sovereign and quasi-sovereign entities.
Newly
issued Treasuries can be purchased at auctions held by the government, while previously
issued bonds can be purchased on the secondary
market.
The Barclays U.S. Aggregate
Bond Index is a
market value — weighted index of investment - grade fixed - rate debt
issues, including government, corporate, asset - backed, and mortgage - backed securities, with maturities of one year or more.
How legislators handle all these
issues could have a direct impact on the
bond market, says Tom DeMarco, CFA ®, a
market strategist in Fidelity Capital
Markets» fixed - income division.
Equity
markets fell as investors shifted to the relative safety of
bonds issued by the major countries — even though S&P had announced a downgrade of the US sovereign credit rating.
The Barclays U.S. Intermediate Government
Bond Index is a
market value — weighted index of U.S. government fixed - rate debt
issues with maturities between one and 10 years.
Buying a
bond at
market discount is different than buying a
bond at Original
Issue Discount (OID).
The iShares 10 - 20 Year Treasury
Bond ETF tracks a
market - weighted index of debt
issued by the U.S. Treasury.
The iShares 20 + Year Treasury
Bond ETF tracks a
market - weighted index of debt
issued by the US Treasury with remaining maturities of 20 years or more.
Issuers may be located in any geography, but holdings must be either denominated in one of the G10 currencies, or
issued outside of the home
market of the
issue currency — effectively excluding local - currency emerging -
market bonds.
Among the broader areas covered: behavioral finance, stock and
bond valuation, business history, international
markets, pension and retirement
issues, questions in public policy: www.nber.org
Entities in smaller
markets typically
issue foreign currency debt in offshore
bond markets because they can
issue larger, lower - rated and / or longer - maturity
bonds than they can (at least at comparable prices) in their domestic
market.
This had the desired effect of allowing both the Government, through primary
issue, and the Reserve Bank, through operations in the secondary
market, to sell the required amount of
bonds.
At the same time, some 70 per cent of government -
issued bonds are yielding 1 per cent or less, and when you combine the equity /
bond value of the 15 largest global
markets they've never been more expensive.
How they vote on these
issues at the remaining five policy meetings this year will shape what happens in the stock and
bond markets, mortgage rates and savings rates.
Morgan Stanley has set - up sales and trading platforms specifically to ensure that a broad range of retail investors have access to new
issue allocations and to the most liquid green
bonds in the secondary
market.
The fund is proportionately subject to the risks associated with its underlying funds, which may invest in stocks (including stocks
issued by REITs),
bonds, cash, inflation - linked investments, commodity - linked investments, long / short
market - neutral investments, and leveraged absolute return investments.
That group
issued a report in September, identifying ways international development banks and other organizations can support the development of local currency green
bond markets around the world.
I've seen a big seller who needed to sell a big position in a junk
bond issue force the
market down 40 points in order find a level where buyers would step up.
Emerging companies While many high yield
bonds are
issued by former investment grade companies in decline, the high yield
market also provides financing opportunities for emerging companies seeking working capital for expansion or to fund acquisitions.
Unlike the United States, Europe lacks a vibrant
market for corporate
bonds issued by smaller, riskier companies.
For that reason,
bond markets, particularly those for corporate
issues, tend to rely on
market - makers, typically banks or securities firms.
They note, for example, that the size of large trades of US investment grade corporate
bonds (so - called «block trades») has continuously declined in recent years.6 Furthermore, in most corporate
bond markets, trading appears to be highly concentrated in just a few liquid
issues, and concentration appears to be increasing in some
market segments.
The new -
issue bond market is expanding (Shin (2013)-RRB- and assets under the management of investment funds that promise daily liquidity are growing rapidly - as suggested by the increasing presence of exchange - traded funds in corporate
bond markets in recent years (see also Box 2).
This covers bank savings accounts, certificates of deposit, treasuries (
bonds issued by the U.S. government), and money
market accounts.
Lower taxes would likely lead to larger deficits, which could require the Treasury to
issue more debt, increasing the supply of government
bonds on the
market.
Taking the position that the Stock
Market is vunerable to rising
bond interest rates Goldman
issues a warning below.
In addition to near zero interest rates, central banks created excessive amounts of money by
issuing trillions of dollars of
bonds, e.g. QE1, QE2, QE3, QE4, etc. pushing unprecedented amounts of newly created money into global
markets to contain the growing deflationary threat; and, while it failed to contain deflation, the excessive liquidity is now circulating in
markets with no place to go, akin to moribund monetary edema.
Issuing international
bonds through controlled entities in offshore centers allows Chinese and Brazilian firms to reach investors that would find it difficult to invest in their local
markets, the BIS says.
There, she was part of the team that represented Champion REIT's manager for the first convertible
bonds issue by a Hong Kong - listed REIT, which won the «Debt
Market Deal of the Year» award at the 2007 ALB Hong Kong Law Awards.
Morgan Stanley's first - ever green
bond issuance and the broader growth across the
market reflect what has become fertile ground for green
bonds, which are similar to other fixed income instruments except that the proceeds are directed toward specific projects that address environmental
issues.
Total green
bond deal volume in the global
markets for 2015 hit a new record of $ 39.5 billion by November,
issued in 161 deals.
Since rising interest rates means the
bond's fixed rate is not competitive against newly
issued bonds at higher
market rates, then it stands to reason that longer - term
bonds (those with longer to pay at the lower rate) are going to see their prices fall further than short - term
bonds.