Not exact matches
It's
not unusual to see companies
trading well above 20 times earnings these days, especially more
bond - like businesses, such as dividend - paying consumer staples, utilities and other defensive equities, says Arthur Heinmaa, chief investment officer at Cidel Asset Management.
While I don't presume to read traders» (or
trading computers») minds (see Barry ritholtz» note this morning about ex post facto rationalizations), generally speaking there is concern that the «taper» of long term
bond purchases will cause
bond yields (the percent of interest paid on them) to rise.
U.S. banks would therefore
not be able to
trade or hold Canadian federal and provincial government
bonds.
Exchange -
traded funds that track high - yield
bond indexes have been the beneficiaries of a cash surge in recent weeks as market participants figure the central bank probably won't raise rates in 2015, and it could be well into 2016 before anything happens.
The «arbitrage» community also plays a role in these loops, especially when quoted
bond «prices» don't reflect the reality of where the
bonds would
trade.
The 10 - year Japanese government
bond didn't even trade on March 13, according to broker - dealer Japan Bond Trad
bond didn't even
trade on March 13, according to broker - dealer Japan
Bond Trad
Bond Trading.
Other government
bonds also showed no
trading activity on specific days last month, and the 2 - year
bond did
not trade on Tuesday and Wednesday, the data showed.
Liquidity risk The vast majority of municipal
bonds are
not traded on a regular basis; therefore, the market for a specific municipal
bond may
not be particularly liquid.
Markets are fine, volatility is modest and
trade war isn't a big deal, say delegates at junk -
bond king Michael Milken's annual L.A. summit.
The ECB argued that cross-border interbank
trading in the 19 - member currency bloc remains relatively low, cross-border equity or
bond holdings are
not increasing, and retail banking integration is limited.
Like most US
bond funds, SHYL does
nt consider issuer domicileit simply screens for
bonds that are issued and
traded in US dollars.
With the service, you don't own individual stocks or
bonds; instead, investments are held in the form of exchange -
traded funds (ETFs).
You can also use index ETFs to actually
trade an index, something that you can't normally do with just stocks or
bonds or commodities.
Although they are
not as egregiously expensive as 10 - year Swiss government
bonds — currently
trading at a yield of negative 0.25 % — Canadian
bonds are offering a relatively paltry real return, even after adjusting for low inflation.
Initially, the IRA will include stocks,
bonds, CDs and variable annuities, Edward Jones said, but «for now,» the IRA will
not include exchange -
traded funds, unit investment trusts or mutual funds.
This convergence of yields has implications for the behaviour of investors: with
bond yields in different countries tending to move together, investors have found it more difficult
not only to diversify their portfolios but to find
trading opportunities.
The
bonds have
not moved in response to that rumor, with the Glencore 5.95's of 2020
trading in the 70's.
Meanwhile,
bond king Bill Gross found silliness on the
trading floor, Larry Summers did
not become the next Federal Reserve chairman, and U.K. Prime Minister David Cameron called for spending cuts in a gold - laden throne room — making a bigger fool of himself than millions of tweeters ever could.
Blockchain Mining Ltd. reported yesterday that the Canadian company that was recently merged into it, Backbone Hosting Solutions Inc. (which
trades as Bitfarms as a digital currency miner) had decided
not to proceed with an offering of convertible
bonds announced in March.
Like, widows and orphans don't seem to be starving because BlackRock has to pay slightly higher bid / ask spreads to
trade bonds.
Yet, if corporate
bonds have indeed become less liquid, it is
not because
trading volumes are lower.
On the other end of the scale, Schwab will only let you search investment grade
bonds online (you must call the
bond desk to
trade junk), will only let you buy online (you must call to sell), and does
not allow limit orders at all.
The relative lack of liquidity in the
bond market and the fact that it is oriented for institutional investors rather than retail investors means that you really want to know where a
bond has been
trading before agreeing to buy or sell at a given price (be careful
not to get ripped off).
I own a specific
bond that sometimes will
not trade for a month at a time (such a
bond is said to «
trade by appointment» in
bond - speak).
With
bond markets increasingly pricing in higher odds that the Federal Reserve will boost interest rates, it is
not surprising that investors are departing corporate
bond exchange -
traded funds this quarter.
I personally believe that the above are good enough reasons to add pressure to Treasuries, but if we want more food for thought, we can
not forget that China is the largest holder of US government
bonds after the Fed and if the rhetoric around a
trade war escalates we can assume that this point would most likely be touched by Chinese counterparties.
Unlike the equity market,
not all
bonds are available to
trade every day.
The financing needs coming due in the first quarter «imply that euro area banks will
not have extra money as a result of the three - year auction to purchase European sovereign
bonds, using a carry -
trade strategy, because the amount of fresh cash is less than the amount of bank debt that will mature during the quarter», Powell wrote recently.
This means there is
not much work to be done on your part when selecting
bonds because there is
not much likelihood that any
bonds trade for a huge discount to their fair value.
If the
bonds don't match your time horizon, then you either end up
trading shorter term
bonds until your 10 years are up (which is an expensive headache), or you take unnecessary interest rate risk with longer term
bonds.
The 10 - year is
not trading at closer to 3 percent because of the «continue large purchase of Treasury
bonds by the Fed.»
Lehman Brothers wasn't going to teach a bad
bond math class,
not at the firm that became synonymous with
bond trading itself.
Not only is it far bigger in size and scope (some $ 60 trillion in sovereign
bonds now
trade globally); it is also unprecedented in character.
A partial but
not complete list of worries includes: China melt down, Yuan reevaluation after effects or Taiwan action, global biomedical epidemics, e.g. Avian Flu, or bioterrorism outbreaks,
trade wars (China, EU), major hedge fund bankruptcies, a PBGC (Pension Benefit Guaranty Corp.) shortfall crisis, major junk
bond or emerging market
bond default, a bank derivative blowup, Fannie Mae issues plus possible assorted natural disasters.
I have underlined several times that while we did see volatility in the equity market in Q1» 18, the
bond market was numb to any market movements; while Treasuries were falling, junk
bonds didn't widen much compared to how they were
trading at the beginning of the year.
There are other examples of speculation such as some European junk
bonds trading at yields so low that no company should ever have to suffer the indignity of bankruptcy but for pure entertainment value you can't beat Jesus coin.
If you want to get your cash off the sidelines but aren't ready to commit to something long term, consider a short - term
bond exchange -
traded fund (ETF).
Investors» warm reception for this week's $ 3.5 bln issue looks strange given the island's junk rating and rocky finances,
not to mention that existing
bonds trade at a big discount.
And I also think that you know if people are fortunate enough to make you know a million dollars
trading Cryptocurrencies, then why shouldn't they pay the same taxes somebody that was fortunate enough to make a million dollars
trading stocks or
bonds or future contracts.
-- Retail investors buying municipal
bonds may overpay for their
trades because brokers aren't always required to disclose their commissions, according to a member of the U.S. Securities and Exchange Commission.
Now that over $ 5 trillion of sovereign debt (with credit risk rising,
not falling)
trades with a negative yield, we can fairly overlook
bonds as an investible asset class.
And so there won't be any reason for Lotto Shares to
trade at any discount relative to normal government
bonds.
Although the performance of the
bond market does
NOT affect our day to day swing
trading stock picks, having a general idea of how
bond ETFs such as $ TLT are performing helps us with our «bird's eye view» of the overall market trends and sentiment.
Currently, electronic corporate
bond trading has
not only evolved to become an essential component for secondary
trading, eTrading is considered by many to be the panacea for resolving the perceived corporate
bond liquidity crisis.
While overseas money pours into stocks and
bonds, hedge funds don't boost efficiency or help in
trade wars.
The easiest way to dollar cost average is to buy a mutual or
bond fund (from Vanguard for example) where you can setup automated deposits — this way you don't have to pay
trading fees for buying new stocks or
bonds every investment cycle.
Although they are
not as egregiously expensive as 10 - year Swiss government
bonds — currently
trading at a yield of negative 0.25 % — U.S.
bonds are offering a relatively paltry real return, even after adjusting for low inflation.
And it's
not like they would
trade for Verlander, let their other free agents go, and invest the money in municipal
bonds.
Not to mention the salaries that he is paying to stars obtained in
trades, like Jon Matlack, Al Oliver and Bobby
Bonds.
It creates a
bond of love, trust, and security that we would
not trade for the world.